Insurance scams amounting to £1.3bn detected in 2017

fraud-beads

One insurance scam is detected every minute in the UK, according to research published by the Association of British Insurers (ABI).

The figures revealed that a total of 562,000 insurance frauds were found out by insurers in 2017, of which 113,000 were fraudulent claims and 449,000 dishonest insurance applications.

According to the ABI the value of the fraudulent claims was £1.3bn. It added that while the number of fraud crimes was down by 8% compared to 2016, the value rose slightly by 1%.

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