After a full offensive against motor insurance fraud like Crash for Cash the Government are again stepping in. A new taskforce is to be set up to help reduce the £billions lost every year due to other types of insurance fraud.
The story was revealed in a news report by the Telegraph:
“Experts are expected to come up with a series of proposals to tackle claimants who believe insurance fraud is "fair game".
The most common type of fraud in the household insurance market is believed to be exaggerating the value of a claim after a burglary, by "upping" a claim for higher-value goods than were actually stolen or even making completely false claims for non-existent items.
The move comes after similar reforms of the motor insurance market - designed to combat bogus claims for whiplash injuries - led to a significant drop in premium costs, according to industry figures.
The customer is expected to see similar benefits on other types of policies if the new taskforce is a success.”
This move by the Government has not come a moment too soon – the knock on effects of fewer fraudulent claims may mean a reduction in motor insurance premiums across the industry. Good news for many beleaguered householders in the UK are still struggling to make ends meet.