Industry News from Yes Insurance

The Association of British Insurers (ABI) has claimed that insurance cheats cost the industry around £4 million each day, it has been reported.

Findings from the company have indicated that the total annual price of this is thought to be £1.6 billion.

A survey conducted by the industry body has found that one in ten adults has admitted to cheating on some kind of insurance in the past - whether it be car, van or home insurance.

This means an additional £40 on average is being added to the premiums of honest policyholders, it added.

And Nick Starling, director of general insurance and health at the ABI, has commented that such activity will be clamped down upon in the future.

"We are devoting greater resources to weeding out the cheats and working together to detect and combat fraud," he said.

With the onset of summer, homeowners are reminded to check that their home is secure before leaving it for long periods of time.

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