(190 words)

The ABI (Association of British Insurers) is supporting new initiatives by Redbridge police to crack down on the number of people who are falsely reporting the theft of items such as ipods and mobile phones.

Anyone who wastes Redbridge police’s time by falsely reporting thefts in order to make fraudulent claims on their insurance policies now faces £80 fines.

The ABI’s list of items most likely to be falsely claimed for by Londoners:

·        Mobile phones

·        ipods

·        Satellite Navigation Systems

·        Laptops

·        Digital Cameras

·        Designer Glasses

·        Designer Handbags

·        Money

·        Jewellery

·        Designer clothes

Chris Hannant, the Head of the ABI’s Financial Crime Team, said:

“Claiming falsely for items such as mobile phones and ipods on insurance policies is fraud. You could be fined by the police, and also find it difficult to get insurance in the future. Bogus and inflated insurance claims cost innocent policyholders over £1.5 billion a year. It is the honest policyholder that pays for insurance fraud.

"If you suspect that someone you know is committing insurance fraud then you can telephone our free and confidential Cheatline on 0800 328 2550."  

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Notes

Notes for Editors

1.            Enquiries to:       

         Alan Leaman    020 7216 7440 (Mobile: 07957 482 330)

         Jonathan French   020 7216 7392 (Mobile: 07958 330 480)

         Malcolm Tarling    020 7216 7410 (Mobile: 07776 147 667)

         Lucy Butler        020 7216 7411 (Mobile: 07712 841 184)

         Kelly Ostler        020 7216 7415 (Mobile: 07968 364 302)      

2.            Redbridge police have detected 15 false claims since June and have issued those responsible with £80 fines.

3.            The ABI is the trade association for Britain’s insurance industry. Its nearly 400 member companies provide over 94% of the insurance business in the UK. It represents insurance companies to the Government, and to the regulatory and other agencies, and is an influential voice on public policy and financial services issues. ABI member companies hold up to a sixth of all investments traded on the London Stock Exchange, on behalf of millions of pensioners and savers.

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