Morning Briefing: UK insurers uncover 350 frauds a day

Morning Briefing: UK insurers uncover 350 frauds a day | Insurance Business America

Morning Briefing: UK insurers uncover 350 frauds a day
UK insurers uncover 350 frauds a day
A new report by the Association of British Insurers says that the country’s insurance companies uncovered 350 frauds every day during 2014; worth U$5.61 million daily! The number of frauds detected was up 9 per cent from 2013 and the value increased by 3 per cent year-over-year. Motor claims saw the largest increase in detected frauds, up 12 per cent in the year. Ben Fletcher, director of the Insurance Fraud Bureau commented: "The resolve to fight insurance fraud through effective collaboration and partnerships with law enforcement, government and public sector organisations is making an impact to protect the honest customer. By tackling cross-industry fraud that insurers alone cannot eradicate the Insurance Fraud Bureau is working with the insurance industry and police forces.”
 
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