The value of fraudulent insurance claims uncovered by insurers rose to a record £1.3 billion in 2013 – that is up 18% on the previous year, according to figures issued by the ABI. Amazingly, this figure is more than double the cost of the UK’s shoplifting bill! So do we conclude that insurance fraud is a premeditated crime, whilst shoplifting is a spur of the moment crime, or do we decided that at major level, both these crimes are planned, implemented and carried out with a degree of bravado that honest people somehow can’t achieve?
Whilst there has been some impressive clean up statistics with insurance fraud statistics, latest industry figures show just how enormous the problem is – and just looking at the sums involved, it is easy to see why insurance is an expensive commodity for the honest person.
Despite the horrendous statistics above, thanks to IFED and the IFB, things are not looking too rosy for the insurance criminals of the future:
Whilst the majority of people purchasing insurance are honest, there are those whose aim is to get something (and something more) for nothing! This is not a victimless crime, it is sneaky and mean and costs us all a great deal of money – and time. Money, because the insurance companies have to somehow fund this, and time because their staff are tied up assessing and dealing with claims which are completely spurious, which means law abiding folk wait longer for their legitimate claim to be dealt with.
So beware if you are thinking of ‘getting a little extra back’ – the IFED and IFB are waiting.........eager to see their success statistics grow: is it really worth taking a chance of getting a criminal record? Try saving up instead!