united kingdom insurance fraud Archives

Insurance fraud reaches record heights

June 3, 2014May 31, 2014 Julie Campbell

According to the ABI, in the United Kingdom, fake claims last year topped £1.3 billion. The Association of British Insurers (ABI) has now revealed its latest figures regarding insurance fraud, which have shown that last year bogus claims exceeded £1.3 billion, breaking records from previous years. The vast majority of that total amount came from false or exaggerated claims made on auto policies. The ABI also pointed out that insurance fraud throughout the industry – not just in the auto sector – has been on the rise at a startling…

Insurance fraud scam in the UK to cost another £1 billion

July 23, 2013July 20, 2013 H. Cutner

Banks are now facing a massive bill to pay for millions of customers back for mis-sold products. Millions of customers throughout the United Kingdom who were mis-sold credit card theft policies will be receiving a portion of an insurance fraud compensation fund payout that currently totals £1 billion. The compensations will be issued to the qualifying customers over the next few months. Eligible customers for the insurance fraud compensation payout are from Barclays, HSBC, Nationwide, Santander, and NatWest. They will be receiving the payment that is due to them at…