Online insurance firms and all in the insurance market sector are conscientious about the prospect of fraud and vigilant toward taking measures against it.

British Insurance Brokers’ Association executive, Graeme Trudgill, said: “If it’s found out that someone is being fraudulent - and they will be found out because you have to really look into these claims - then questions will be asked.”

The Financial Ombudsman is a court that is pinnacle in deciding the doom of fraudsters, when it comes to insurance. Circa one billion pounds were paid out last year purely to in aid of fraudulent claims. The downside of this affects us all, because the insurance companies paying out those claims have to put up all their customer’s insurance premiums.

In July 2007, uSwitch carried out a study that revealed some horrifying facts. First of those is that two and half million people could be in such a position, that their car insurance is no longer valid because when registering, they had not given significant information about their insurance. Incredibly, basic details were lied about the most, with one and half million lying about address and age!

This entry was posted on Friday, February 15th, 2008 at 4:35 pm and is filed under Comparison Sites. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.