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Insurance fraud worth £3.5m uncovered every day, figures show

Insurers have exposed a record £1.3bn worth of fraudulent claims last year as the industry stepped up its war on cheats.

The amount, released by the Association of British Insurers (ABI), marks an 18% rise in value on 2012 and equates to £3.5m worth of insurance frauds being uncovered every day.

The ABI said there had also been a “significant” increase in people phoning up to report suspected fraudsters, indicating a growing acknowledgement that this was not a “victimless” crime.

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