Fake insurance claims amount to 1.6 billion pound per year and increase premiums by 40 for each customer reveal industry experts. A report by the Association of British Insurers (ABI) show that up to 400 members agreed payment of the claims because they were unable to prove they were fake. Figures from the Insurance Fraud Bureau (IFB) calculated that fraudsters net up to 400 million a week with ‘crash for cash’ being a new technique for criminals. ‘Crash for cash’ involves a claim being made after the driver has purposefully caused an accident. The motorist may break suddenl...

Download 'Crash For Cash' Adds 5% To Insurance Premiums