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Insurance fraud hits new highs in the UK

As the recession continues to bite hard at the everyday population of the UK many insurers have been reporting significant increases in insurance fraud. The latest to join the band of insurance companies suffering from "fictitious claims" is Admiral Group which believes that frauds in the region of £20 million have been carried out by its customers over the last year. In truth the real figure will never be known although there are others in the sector that believe the situation is far worse.

Aviva, Britain's largest household insurer, has apparently identified 29,000 fraudulent claims from 2008 which equate to total payouts of £200 million. The company believes there has been a 30% increase in the number of fraudulent claims and a 20% increase in the amounts being claimed. While there is no doubt that many people in the UK are struggling to make ends meet, and unfortunately some of them feel forced into making fictitious claims on their insurance policies, the truth is that in the end customers will pay the price. As we have covered before, a large portion of the average UK car insurance is made up of funds to cover uninsured drivers and fraudulent claims which are occurring on a more regular basis.

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