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Life Insurance - Insurers cracking down on fraud - 05/03/2008
The insurance industry will be aiming to tackle fraudulent claims in 2008, this is according to an industry expert.

Friends Provident released figures which have shown that 5% of insurance customers in the UK have lied on insurance applications.  The British Insurance Brokers’ Association’s (Biba) technical and corporate affairs executive, Graeme Trudgill, said: "The insurance industry pays out over £1 billion a year in fraudulent claims and it is a big worry.”

He continued, “Unfortunately, there will always be people out there who do try and cheat the system but I think that we are becoming more aware, more alert and we'll be more able to respond to it and the canoeists of this world going forth. Fraudsters will put up everyone else's premiums."

Life insurance policies for the honest and trustworthy customers are higher than they should be because of the money dishonest customers are costing insurers.
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