Fraudulent motor claims dominate fake claims in 2024
Fraudulent motor claims made up more than half of all fake claims detected in 2024, according to new data from the Association of British Insurers.
It detected 98,400 fraudulent claims worth £1.16bn during the year, a two per cent rise on 2023.
Of this number, 51,700 were fraudulent motor claims worth a total value of £576m. This represents a five per cent increase on 2023 and makes up 53% of all fake claims uncovered last year.
The data also revealed that the rise is being driven by the domestic policyholders, with fraudulent claims for domestic policies up by nine per cent, or £36m year-on-year, while false commercial policy claims rose just 1.7%, or £1.7m.
Exaggerated loss remains the most common type of fraud uncovered, with these claims rising by 10% and amounting to £466m.
