False insurance claims on the increase?

Monday, 18 April 2011 11:11

One in nine people who exaggerate insurance claims have suggested their reasoning is because it is something everyone does.

Research conducted by AXA discovered that exaggerating a claim is something 36 per cent of respondents would be likely or very likely to do, with those in London, the West Midlands and Wales found to be the worst offenders.

Home underwriting manager at AXA James Barclay stated it is hoping to make individuals aware that premiums will be kept lower if more people act honestly.

"Generally people see it as a victimless crime but ultimately, honest policyholders foot the bill as insurers have to pass on the cost to their customers," he said.

Mr Barclay added that fraudulent claims have always been something insurers have faced but suggested the trend has worsened in recent years and stated measures are in place that could see a whole claim refused if details are found to be false.

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