Co-operative says car insurance for young drivers is more expensive due to cheats

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Co-operative says car insurance for young drivers is more expensive due to cheats

Tue 31st Aug 2010

Honest drivers should report people who defraud insurance providers, according to a representative from Co-operative Financial Services.

Tim Franklin, chief operating officer at the organisation, claimed that dishonesty on insurance application forms is making premiums more expensive for everybody.

In his opinion, each person who decides to get behind the wheel without a valid policy must take personal responsibility for their actions.

He suggested that reporting an insurance cheat is similar to telling authorities about individuals who defraud the benefits system and urged people to tell providers if they know of someone breaking the law.

"As a responsible insurer we strive to educate drivers about the importance of responsible driving and the effect of deliberately forgoing insurance," added Mr Franklin.

This month, the Co-operative Bank announced that it has reached a milestone in its project to secure basic bank accounts for prisoners prior to their release, with the firm revealing that it has managed to sign up 1,000 people to the initiative.

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