Call 01267 228 500 - email info@clayshawbutler.com

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.

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

Copyright

© 2024 Clay Shaw Butler. All rights reserved.

We use cookies on this website, you can find more information about cookies here.
Contact Us

Please call:
01267 228 500

Quick links

Home | Attribution | Contact us | Site map | Accessibility | Disclaimer | Help |

Address
Clay Shaw Butler, 24 Lammas Street, Carmarthen, Carmarthenshire SA31 3AL

powered by totalSOLUTION


Clay Shaw Butler is the trading name of Clay Shaw Butler Limited.
Registered in England and Wales. Company No. 6519528. Registered to carry on audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.
Details about our audit registration can be viewed at www.auditregister.org.uk under reference C001742711.
The registered office address is 24 Lammas Street, Carmarthen, Carmarthenshire SA31 3AL.