Value of average insurance fraud jumped 20% in 2022

According to ABI figures

Jaskeet Briah
clock • 2 min read

The Association of British Insurers (ABI) has revealed that despite a 19% decline in the volume of fraudulent insurance claims detected in 2022, the value of the average scam increased 20% year-on-year to £15,000, compared to £12,283 in 2021.

The total number of fraudulent claims detected last year dropped to 72,600 cases compared to 89,000 in 2021, but the value of an average scam fell at a lower rate following higher inflation and a £134m rise in the value of property frauds. The number of opportunistic frauds decreased by 18% to 63,000 cases, with a 20% decline in the volume of fraudulent personal injury claims. The ABI detailed this is largely due to the Official Injury Claim (OIC) portal reducing the overall number of small personal injury claims being made. Earlier this year, The City of London Police's Insurance Fra...

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