Figures out on Thursday will show rise in number and value
Association of British Insurer (ABI) figures due to be released on Thursday will show a 30% leap in the cost of fraud according to the Telegraph.
The figures will show a rise in the number and value of fraudulent claims detected by insurers. It is expected to have reached the highest level since the ABI started collecting such figures in 2004. The cost of detected fraud is set to be about 30% higher than last year's reported £530m.
The Telegraph reports that the ABI claims that policyholders have been deliberately setting their cars alight, often to pay for outstanding hire purchase payments.
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