From This is Money:
Insurance fraud has increased by almost a quarter in two years. The Association of British Insurers (ABI) estimates it costs £5.2m every day and adds an extra £44 to the cost of all home and motor policies.
In a survey for the ABI, more than two in five people thought it was acceptable to increase the value of a lost or stolen item and three in ten said it was OK to overstate the extent of any damage to items when claiming.
But insurance companies are stepping up their efforts to expose the cheats. With the help of Mark Jones, a consultant in financial crime at EMB, we reveal some scams that failed.
1. A woman said her £200 ‘bingo winnings’ were accidentally incinerated while she was cooking. She claimed the wind blew the cash on to the hob, catching fire. She sent in the charred remains, but these amounted to about £20. The insurer also felt the description of the location of the window, table and hob made it highly implausible.
2. A man claimed &poun…
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