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Insurance News - Last Updated Tuesday 26th August 2008 → Syndicate this
Insurance fraudsters find understanding with general public




Tuesday 26th August 2008

Insurance fraud is not taken as a serious offence by many Britons, a new poll reveals.

According to ITV, who conducted the survey for its new Fiddles, Cheats & Scams series, only one in four people would report such a scam if they came to find out about it.

Moreover, a similar number expressed "sympathy" for some of these fraudsters, while 56 per cent said that they "could understand" why some people would want to exaggerate claims.

Fraud risk manager at Axa, Richard Davies, commented: "Businesses are finding it tough at the moment with increased interest rates and an inability to actually service their loans.

"Arson is one of the ways in which they will try and get out of the problem simply by burning the business down - and hoping that the insurance company is going to pick up the bill."

I'm A Celebrity star Lord Charles Brocket, who has served jail time for insurance fraud in the past, added: "There's a sort of mentality that insurance companies are fair game. I guess they look at the profits of the companies, like the profits of the banks, and think, God, it's in billions or whatever.

"So if I have a little bit, it's not going to make any difference to them. It's not like mugging an old lady or holding up a bank which is obviously quite different. So yes, there is a different attitude towards insurance companies."


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