Fraudulent insurance claims in UK reach £1.3bn in 2013: ABI report

The total cost of fraudulent insurance claims in UK reached £1.3bn in 2013, up by 18% compared to the year before, according to the figures published by the industry watchdog, the Association of British Insurers (ABI). Despite fall in the number of claims, the UK insurers detected a total of 118,500 fake or inflated insurance claims in the year, which equates to 2,279 claims every week. The insurance industry trade associations said that false claims cost an extra £50 annually, through inflated premiums to every policyholder in the country.