The industry bites back
It is estimated that fraud costs the UK economy £14bn annually. Andrew Tjaardstra looks at how the insurance industry is finally being more proactive in stopping fraudsters
Last year, the total cost of insurance fraud for the industry was around £2.25bn. Independent research by the Association of British Insurers shows that 7% of people have admitted to making a fraudulent claim and 48% would not rule out making one in the future.
"Someone who exaggerates a claim, as far as I am concerned, is a fraudster," comments John Beadle, counter-fraud manager at Royal & Sun Alliance. "If somebody has had five items stolen and believes they are worth £200 each when they are
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