Recession Reaction: Art insurers say fraudulent claims on the rise

  • September 03, 2009 11:47

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The insurance industry is on red alert. The number of fraudulent claims is rising rapidly and experts predict they will continue to increase until the economic situation improves. According to the Association of British Insurers (ABI), in 2008 there was a 17% rise in fraudulent claims compared with the previous year. This amounted to 2,000 dishonest claims made in Britain every week. The total value of these in 2008 was £730m—30% up on 2007.

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