{"id":179,"date":"2007-10-18T15:21:38","date_gmt":"2007-10-18T15:21:38","guid":{"rendered":"http:\/\/www.the-finance-zone.co.uk\/insurance\/fraudulent-insurance-claims-rise\/"},"modified":"2007-10-18T15:21:38","modified_gmt":"2007-10-18T15:21:38","slug":"fraudulent-insurance-claims-rise","status":"publish","type":"post","link":"https:\/\/the-finance-zone.co.uk\/index.php\/2007\/10\/18\/fraudulent-insurance-claims-rise\/","title":{"rendered":"Fraudulent insurance claims rise"},"content":{"rendered":"\n\n
\n
\"Bicycles\"<\/p>\n
1,000 bikes are stolen a day but claims are not always what they seem<\/div>\n<\/div>\n<\/td>\n<\/tr>\n<\/table>\n

Fraudulent insurance claims are rising sharply and honest policyholders are suffering as a result, the industry’s trade body has revealed.<\/strong>One in 11 claims is false, according to the Association of British Insurers (ABI); three times as many as in 2003.<\/p>\n

False household insurance claims, such as self-inflicted damage to carpets, account for more than half of these.<\/p>\n

The ABI added that truthful customers are suffering from such deception with an average \u00c2\u00a340 being added to premiums. <\/p>\n

Fighting insurance fraud is costing the industry \u00c2\u00a31.6bn a year, the ABI said.<\/p>\n

‘Acceptable crime’<\/strong><\/p>\n

The scale of false claims detected by insurers has spiralled to \u00c2\u00a3480m a year.<\/p>\n

In about 85% of such claims, the value of goods which have genuinely been lost is being exaggerated.<\/p>\n

The ABI said past research suggested that some people regarded making false claims as an “acceptable crime” because other people were doing it.<\/p>\n

Other prevailing attitudes included a feeling that insurers were making huge profits so would not miss relatively small-scale claims.<\/p>\n

The ABI said such attitudes were dangerous but insisted the industry was fighting back.<\/p>\n

“Insurance cheats are more likely to be caught than ever before,” said Nick Starling, the ABI’s director of general insurance and health.<\/p>\n

“Cheats will pay a high price as future insurance and credit will be more expensive and harder to obtain.”<\/p>\n","protected":false},"excerpt":{"rendered":"

1,000 bikes are stolen a day but claims are not always what they seem Fraudulent insurance claims are rising sharply<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[26],"tags":[],"class_list":["post-179","post","type-post","status-publish","format-standard","hentry","category-insurance"],"_links":{"self":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/179","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=179"}],"version-history":[{"count":0,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/179\/revisions"}],"wp:attachment":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}