Wednesday, 12 August 2009

Insurance claims rise in the recession

According to the Association of British Insurers, the recession has sparked an increase in the number of fraudulent insurance claims.

Apparently around 107,000 claims totalling £730 million were false in 2008 - up 30% on 2007, with claims for Home Insurance representing more than 50,000 false claims detected last year. Although the highest by value were fraudulent car insurance claims, valued at £360 million.

The rise in fraudulent claims has been attributed to the recession, with an increasing amount of people seeking ways of obtaining cash. However, the ABI warns that “insurers are intensifying their crackdown on insurance cheats and that fraud adds an extra £40 a year to the average premium.”

Insurances claims rising in a recession?

Blimee - they'll be telling us that bears occasionally pop into the woods shortly!!

Only in America

A lawyer in North Carolina bought a box of very rare and expensive cigars, then insured them against fire among other things. Within a month, having smoked his entire stockpile of these great cigars and without yet having made even his first payment on the policy, the lawyer filed a claim with the insurance company.

In his claim, the lawyer stated the cigars were lost "in a series of small fires."

The insurance company refused to pay, citing the obvious reason: that the man had consumed the cigars in the normal fashion. The lawyer sued....and won! In delivering the ruling the judge agreed with the insurance company that the claim was frivolous.

The judge stated nevertheless, that the lawyer held a policy from the company in which it had warranted that the cigars were insurable and also guaranteed that it would insure them against fire, without defining what is considered to be "unacceptable fire," and was obliged to pay the claim.

Rather than endure a lengthy and costly appeal process, the insurance company accepted the ruling and paid $15,000 to the lawyer for his loss of the rare cigars lost in the "fires."

But... After the lawyer cashed the cheque, the insurance company had him arrested on 24 counts of arson! With his own insurance claim and testimony from the previous case used against him, the lawyer was convicted of intentionally burning his insured property and was sentenced to 24 months in jail and a $24,000 fine.

Like we said .... only in America!!

I'm not sure that this will appeal to all men!!

You can't trust those Insurance companies!!

Ahhh - the old ones are the best!!

These excuses were on accident claim forms of a major insurance company. ere asked for a brief statement describing their particular accident.

1. The other car collided with mine without giving warning of its intention.
2. I thought my window was down but found it was up when I put my hand through it.
3. A pedestrian hit me and went under my car.
4. The guy was all over the place. I had to swerve a number of times before I hit him.
5. I pulled away from the side of the road, glanced at my mother-in-law and headed over the embankment.
6. The accident occured when I was attempting to bring my car out of a skid by steering it into the other vehicle.
7. I was driving my car out of the driveway in the usual manner, when it was struck by the other car in the same place it had been struck several times before.
8. I was on my way to the doctor's with rear-end trouble when my universal joint gave way, causing me to have an accident.
9. As I approached the intersection, a stop sign suddenly appeared in a place where no stop sign had ever appeared before. I was unable to stop in time to avoid the accident.
10. The telephone pole was approaching fast. I was attempting to swerve out of its path when it struck my front end.
11. To avoid hitting the bumper of the car in front, I struck the pedestrian.
12. My car was legally parked as it backed into the other vehicle.
13. An invisible car came out of nowhere, struck my vehicle and vanished.
14. When I saw I could not avoid a collision, I stepped on the gas and crashed into the other car.
15. The pedestrian had no idea which direction to go, so I ran him over.
16. I saw the slow-moving, sad-faced old gentleman as he bounced off the hood of my car.
17. Coming home, I drove into the wrong house and collided with a tree I don't have.
18. The indirect cause of this accident was a little guy in a small car with a big mouth