Fraudsters Squeezed £1.83B Out Of Insurers In 2018

Law360, London (August 29, 2019, 3:05 PM BST) -- Insurers were conned out of £1.83 billion ($2.22 billion) through 469,000 fraudulent insurance claims and dishonest applications in 2018, a trade group said, despite the industry spending approximately £250 million a year to crack down on scams.

Claims from a preacher and a rock guitarist were among the attempted frauds that led companies to pay out an average of £12,000 for each scam in 2018, the Association of British Insurers said.

Research by the trade group published on Wednesday showed that insurers handled 3% more fraud claims and dishonest applications in 2018 than the 457,000 in 2017. Insurers also paid out a greater amount...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS