Three-quarters of a million Brits commit travel insurance fraud
As many as three-quarters of a million Brits are making false travel insurance claims, with many failing to realise that they are committing fraud by doing so, according to research from Direct Line Travel Insurance.Research found that many travellers exaggerate or falsify their claims - 11 per cent confessed to increasing the value of their claim and five per cent admitted they added extra items. While falsifying or exaggerating an insurance claim may seem like a harmless 'white lie', travel insurance fraud is a crime.Some 18 per cent of those questioned tried to justify their behaviour by saying they are owed the money because they had not claimed before and ten per cent taking the attitude that it was okay, because everyone does it. Eighteen to 29 year-olds were by far the worst offenders with 33 per cent admitting to lying, compared with just seven per cent of over 50s.Chris Price, business manager at Direct Line Travel Insurance said: "As a leading insurer we deal with thousands of travel claims a year, the majority of which are genuine. "However, it's worrying to see from the results of the research that some consumers appear to underestimate the consequences of their actions. "The telling of a 'little white lie' is fraud however they chose to justify it."Contemplating committing fraud is a serious matter and we would urge anyone about to claim on their travel insurance not to take this lightly."
Share this..
Related stories
MPC encouraged to increase quantitative easing in the UK
The Bank of England MPC has today been encouraged to increase the £200 billion quantitative easing program which many believe helped the UK economy recover from the earlier stages of the economic downturn. The program simply increases the liquidity available to the banking arena and the business arena thereby oiling the wheels of commerce and the UK. So who is calling for the MPC to reintroduce t...
Read MoreCouple plan cut-price 'credit crunch wedding'
A credit crunch-hit Devon couple have not let the financial crisis derail their wedding plans.Instead, Christopher May and Odette Fenwick will go ahead with the ceremony next weekend on a budget of just £500, the Daily Mail reports.The tight-fisted twosome are spending just £40 on the buffet, while 19-year-old Odette's wedding dress is setting her back just £52.A bargain bucket £43.50 civil ce...
Read MoreGordon Brown offers drop-in financial advice service at Number 10
For those struggling with the woes of the recession, help will soon be at hand. The Prime Minister announced this morning that he will be offering a free financial advice drop-in service to members of the public. Each twenty-minute free advice session will take place at 10 Downing Street, and will run by the Prime Minister himself on a first-come first served basis throughout April.
...
Gordon Brown announces a major rescue package for struggling homeowners
In a move which has surprised many in the market Gordon Brown has today announced a new package for stricken homeowners who stand to lose their homes. Under the scheme, those with interest only mortgages would be able to defer up to 2 years worth of interest to give them breathing space to sort out their finances. While the details of the scheme have not yet been released to the open market, there...
Read MoreThe Treasury set to take larger role in UK regulation
It appears that the secret as to why ongoing UK banking regulation changes were postponed this week is out of the bag. Rumours circulate the market suggest that the Bank of England and the Financial Services Authority (FSA) will be stripped of significant power in the regulatory market which will be transferred to the Treasury.
This is a significant U-turn by the UK government and o...