Are Insurers Really Cutting Payouts?

February 28th, 2013

There’s a growing body of evidence to suggest that insurance providers are getting stricter over paying out claims, but do the figures add-up?

According to figures from the British Insurance Brokers’ Association; 90% of brokers believe that insurance providers are getting stricter with payouts. And they are pinning the blame on the ongoing financial climate and the growing number of fraudulent insurance claims. Read the rest of this entry »

Insurers Crack Down on £1Billion a year Fraudsters

October 5th, 2012

Insurance fraudsters are costing honest householders and drivers £50 a year extra on their policies with crooked claims, according to the Association of British Insurers (ABI).

Investigators uncover around 2,670 false claims valued at £19 million every week, says the ABI. Last year, fraudsters tried to con money out of insurers with 139,000 bogus claims for £983 million. Read the rest of this entry »