Some £1.1 billion-worth of fraudulent insurance claims were detected last year, marking a 4% increase compared with 2022, according to the Association of British Insurers (ABI).
About 230 fraudulent insurance claims are being detected per day, typically. Insurers identified 84,400 fraudulent claims in 2023, which was 11,800 more than the previous year.
The average value of a bogus claim was £13,000. Last year saw about 25,700 claims, totalling £407 million, involved losses being exaggerated. READ MORE: Four people in 'serious condition' in hospital after car involved in early hours crash More than half (54%) of detected bogus claims last year involved motor insurance.
Insurers uncovered 45,800 motor scams, worth £501 million in total. Insurers also identified £143 million-worth of fake property insurance claims.
Read more on manchestereveningnews.co.uk
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