Allianz UK Foiled £65.8M In Attempted Insurance Fraud in '20
Law360, London (April 20, 2021, 6:13 PM BST) -- Insurance giant Allianz said on Tuesday it foiled £65.8 million ($92 million) worth of attempted insurance fraud last year, with "claims farming" on property cover in part to blame.
The British unit of the German insurer said the figure includes around £2.6 million sought in payouts for negligence in construction driven by claims management companies.
There has been an increase in recent years in negligence claims against the professional indemnity insurers of builders who, in the 1990s, refitted older homes with shoddy insulation. In many cases, poorly fitted wall insulation has resulted in damage to properties from damp, costing home owners...
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