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It has been revealed that the Chancellor Alistair Darling held talks with some of the UK largest banks yesterday in a bid to try and avert a banking crisis in the UK. The meeting was attended by...
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Saturday 12th July 2008
If ever there was a self fulfilling prophecy then the car insurance market may well be it!
A recent report by the Association of British Insurers (ABI) claims that car insurance fraud in the UK has increased by 70% over the last 3 years. As the cost of running a car continues to spiral upwards many drivers are being left with very few ways of paying off their debts. The fact that one such car insurance fraudster was found to have literally pushed his car off a cliff may be a little over the top (literally!), but there are also many other examples of drivers becoming desperate.
The ABI estimates that on average £40 of each annual car insurance premium is the direct result of covering the cost of car insurance fraud. However, with signs that this trend is set to increase it seems that the more drivers which make fraudulent claims to bail themselves out, the more expensive car insurance premiums will become, putting more drivers in the same situation.
People are literally trying every trick in the book at the moment to try and rid themselves of what can be substantial debts. Quite where it will all end is anyone’s guess at the moment...... |
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