Increase in fraudulent claims 'unsurprising'

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Increase in fraudulent claims 'unsurprising'

Fri 17th Apr 2009

Experts have claimed that the increase in the number of fraudulent claims during the credit crunch is not surprising, as cash-strapped Brits try to cheat the system in order to save money.

Analysts from moneysupermarket.com said that the recent statistics released by the Association of British Insurers (ABI), are "not surprising". The figures revealed a 17 per cent increase in the number of falsified insurance claims in 2008, compared with 2007.

The price comparison site pointed out that fraudulent insurance claims drive up the price of premiums for honest customers.

It added: "It's important to remember that making a fraudulent insurance case will not only hit you in the wallet but it is also against the law. Anyone willing to take that risk could end up with a criminal record."

The ABI warned that making fraudulent insurance claims or not declaring information honestly could end up costing customers more than it saves them.

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