The cost of living crisis has seen insurance fraud soar by 61% as people feel the squeeze, new figures suggest.
The City of London Police’s Insurance Fraud Enforcement Department (IFED) said its figures, which cover March 2022 to April this year, suggest a rise in 'opportunistic fraud' rather than professional fraudsters.
This could be claims being exaggerated or false information provided when applying for insurance, with examples including faking an injury after a genuine road traffic accident or claiming twice on insurance after losing an item of jewellery, the department said.
The rise has prompted police to warn the public not to be tempted to bump up claims as they battle rising costs and a squeeze on their finances.
According to IFED figures, motor insurance fraud was the most common type of opportunistic fraud referred to it for the period between March 2022 to April 2023, accounting for 51% of the cases the unit received, while property insurance fraud was the second highest at 29%.
Watch: UK cost of living crisis: Why is inflation on the rise?
In one operation, officers from IFED investigated 18 opportunistic claims, worth an estimated 216,875 in total, resulting in multiple search warrants, charges and arrests across the country.
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