Newsletter Enter your email address to register for our Newsletter. Email Address * Insurer warns of rise in fraudulent claims amid cost-of-living crisis Insurer Zurich UK has stated that there has been a significant increase in the number of fraudulent claims as a result of the cost-of-living crisis.Zurich found that between 1 January and 31 May 2022, the number of fraudulent property claims rose by 25% compared to the same period in 2021. It also stated that in the last five months, it has prevented fraud amounting to £4.2 million, which equates to more than £40,000 a day.TVs, mobile phones and jewellery were some of the most common items fraudsters claimed to have had stolen or to have lost.Scott Clayton, Head of Claims Fraud at Zurich UK, said:'Sadly, many more people are facing hardships as a result of the cost-of-living crisis, which is contributing to an increase in fraudulent claims. Since the start of the year, we've seen a significant rise in bogus property claims as households and businesses come under increased financial strain. 'While exaggerating or faking a claim might seem like a chance worth taking, the consequences can be severe, with fraudsters facing criminal prosecution and potentially even a prison sentence.'Internet link: Zurich website
Insurer warns of rise in fraudulent claims amid cost-of-living crisis Insurer Zurich UK has stated that there has been a significant increase in the number of fraudulent claims as a result of the cost-of-living crisis.Zurich found that between 1 January and 31 May 2022, the number of fraudulent property claims rose by 25% compared to the same period in 2021. It also stated that in the last five months, it has prevented fraud amounting to £4.2 million, which equates to more than £40,000 a day.TVs, mobile phones and jewellery were some of the most common items fraudsters claimed to have had stolen or to have lost.Scott Clayton, Head of Claims Fraud at Zurich UK, said:'Sadly, many more people are facing hardships as a result of the cost-of-living crisis, which is contributing to an increase in fraudulent claims. Since the start of the year, we've seen a significant rise in bogus property claims as households and businesses come under increased financial strain. 'While exaggerating or faking a claim might seem like a chance worth taking, the consequences can be severe, with fraudsters facing criminal prosecution and potentially even a prison sentence.'Internet link: Zurich website