Insurance companies are being hit by up to £4m per day as a result of fraudulent claims, according to the latest research conducted by the Association of British Insurers.
The ABI study reveals that fraud is costing the insurance industry a massive £1.6bn per year, resulting in an increase of approximately £40 to the average annual premium.
Nick Starling, director of general insurance and health at the ABI: "These figures highlight that greater deterrents, such as criminal prosecutions, are needed to discourage fraud. We are calling for police forces to be given more resources so fraud can be treated with the seriousness it deserves."
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
