Home Insurance Fraud Levels in UK Fell in 2010

The latest report by CIFAS, a not-for-profit membership association dedicated to the prevention of fraud, revealed that home insurance fraud stabilised in 2010.

The overall number of false house insurance claims fell compared to the year of 2009. Although false claims in general insurance also fell, the decrease was driven by household insurance (-41% in fraudulent claims).

The detected home protection claims were mainly associated with inflated value of stolen or damaged goods. Other common methods were: provision of false bank details, failure to declare other claims, provision of false payment details, and many more.

Commenting on the findings, Mr. Richard Hurley of CIFAS, said that "while the small decrease in fraud identified in 2010 is welcome, the threat has not gone away... The findings presented in Fraudscape can be considered a tip of the iceberg in terms of society at large."

The full version of the Fraudscape report by CIFAS is available on the official website of the organisation.