Context
The ABI has announced that its annual detected fraud data reveals that £1.16 billion worth of fraudulent general insurance claims were identified in 2024 – a 2% increase on the £1.14 billion detected the previous year.
Key points to note and next actions
- The ABI has stressed that the fight against fraud must continue.
- Insurers uncovered over 98,400 fraud-related claims in 2024, a 12% rise from 88,100 in 2023.Motor insurance continues to be the area where insurers see the most illicit claims occurring, and they detected 51,700 motor scams worth £576 million. This is 5% more than in 2023 and represents 53% of the total number claims made throughout the year.
- Breaking motor insurance down, the value of fraudulent claims for domestic policies increased by £36 million (9%) year-on-year, while the figure for commercial policies remained relatively stable – rising by £1.7 million (1.3%).
- Insurers also identified 18,700 deceptive property insurance claims worth £189 million – 11% more than the volume of claims detected during the previous year.
- If you suspect you have been a victim of insurance fraud, report your concerns to Action Fraud on 0300 123 2040, or at actionfraud.police.uk. Or you could contact the Insurance Fraud Bureau via its confidential Cheatline on 0800 422 0421 or at insurancefraudbureau.org.