Context
The Association of British Insurers (ABI) is warning that there can be no let-up in cracking down on insurance fraud. Key findings from the ABI’s latest figures from 2022 detail that motor insurance continues to make up the largest volume of fraud cases at 42,500, representing 59% of total insurance claims fraud.
Key points to note
- The total number of fraudulent insurance claims detected fell by 19% on 2021 to 72,600 cases.
- Despite the drop in the number of fraudulent claims, the value of the average scam increased to £15,000, up 20% on 2021.
- The volume of fraudulent personal injury claims has dropped by 20%, largely as a result of the Official Injury Claim (OIC) portal reducing the overall number of small personal injury claims being made.
- Mark Allen, the ABI’s Assistant Director, Head of Fraud and Financial Crime, mentions that “Honest customers rightly expect nothing less. It is also important that consumers remain vigilant to potential scams. If you suspect a fraud has been committed, you can report it confidentially to the IFB’s CheatLine on 0800 422 0421”.
Next actions
None – for information and awareness.