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1.2m say its ok to fake insurance claim
15 May 2008
Alarming figures show that more than a million Brits do not think it's wrong to lie to an insurance firm in order to make a claim.
The data, compiled by insurer RSA, also found that 56 per cent of people believe that it is unlikely they would be caught should they tell untruths when claiming.
Insurance fraud costs the sector around £1.5 billion a year as well as impacting on innocent policy holders and the industry is making renewed efforts to crack down on those who lie.
John Beadle, RSA's counter fraud manager, said: "The reality is that insurance fraud adds a significant amount to overall claim costs and it's the honest policyholders who are the true victims.
"Fraud adds an additional five per cent onto their insurance bills."
He added that in the future it will be harder to commit insurance fraud as improved technology will allow firms to track fraud within numerous financial products.
"So if a person commits fraud on an insurance claim and is detected, other financial services companies, such as mortgage lenders and credit card providers, will know and that will have an impact on the success of their application," he said. 
