Insurance fraud is on the rise in Europe

The statistics presented in February by Insurance Europe (an association of European insurers) have shown an increase in insurance fraud which is now estimated at 10% of the total incurred losses.
Used with permission from Microsoft (modified picture)

In Great Britain, 138 000 cases totaling 1.5 billion USD were detected in 2011, that is 5% more than in 2010. Undetected fraud would cost insurers 2.8 billion USD. In France, fraud is estimated at 3.3 billion USD with 35 000 cases discovered in 2011, a figure three times higher than that of 2003. European insurers are nevertheless organized to thwart dishonest practices by exchanging information on the insured.

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