£1bn of bogus claims uncovered

AOL Money Staff
Coins and notes
Coins and notes

The value of uncovered bogus insurance claims has topped £1 billion for the first time as the industry hailed its efforts to clamp down on fraudsters.

Some 2,390 frauds worth £21 million were uncovered a week in 2012 on average, adding up to £1.1 billion worth of claims that were exaggerated or completely made up, the Association of British Insurers (ABI) said.