Nearly a Third of Brits Think it's Acceptable to Commit Home Insurance Fraud, Report Legal & GeneralBy Legal General, PRNE
Monday, January 24, 2011
A New Report Shows a Worrying Consumer Attitude to Home Insurance Fraud
KINGSWOOD, England, January 25, 2011 - A new report produced by Legal & General has revealed that almost a third
of Brits* believe that it's acceptable to commit home insurance
(www.legalandgeneral.com/insurance/home-insurance/) fraud. The
research carried out for the FraudStoppers Report identified that nearly a
third of Brits (29%) think that it's acceptable to exaggerate a house
insurance claim, for example by adding extra items or increasing the value of
the amount being claimed.
According to figures provided by the Association of British Insurers,
insurance fraud costs every household insurance policyholder an extra GBP44 a
year on their premium**. Last year, over 2,000 dishonest insurance claims
worth more than GBP16 million were detected every week across the industry**.
The report has found that a key reason for people to commit home contents
fraud is the need to keep up with the latest gadgets and technology***. This
"up-raiding", trying to commit fraud simply to get the latest technology, is
a trend which home insurance providers are aware of and they are already
catching potential fraudsters out.
Steve Phillips, Head of Fraud Services, at Legal & General's general
insurance business, said: "The vast majority of us do understand that
insurance fraud is equivalent to robbing other policyholders, but there
appears to be a worrying number of people who are willing to make an inflated
claim in order to get the latest gadget. This is committing fraud and is
"Although Legal & General has a zero-tolerance policy on fraud we do pay
all genuine claims and have made huge efforts to make the claims process as
smooth as possible for our customers."
If you are aware of someone who may attempt or who is attempting to
commit insurance fraud, you can ring the confidential and free Fraud
Cheatline on +0800 328 2550. Your call could help to reduce the financial
impact of fraud for us all.
Notes for editors
The FraudStoppers report is now available to download. (
You can also get a home insurance quote or find out more about our home
insurance products here
* & *** Research Methodology
Opinion Matters, an independent pan-European market research agency,
conducted the research between 3 and 7 November 2010. A total of 1099 members
of the public were polled across the country.
Legal & General PR team GI & Annuities. Registered address is One Coleman Street, London EC2R 5AA. Registered in England No 423930. +44(0)121-633-6080
Tags: England, January 25, Kingswood, Legal & General, United Kingdom