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Insurer warns against false information
15 December 2008 17:01
The insurer Norwich Union has advised consumers against giving false information when taking out a policy.
A representative from the firm claims that in a bid to reduce motor insurance premiums, customers are becoming increasingly creative with the personal details they provide.
What's more, insurers are also witnessing a rise in underwriting fraud, with Norwich Union estimating that this costs honest drivers between £50 and £60 annually on their policy.
Simon Warsop, director of motor pricing for Norwich Union, said that the company was committed to tackling fraud against its customers during the presently difficult economic climate.
But, he added, the group had technology in place to accurately single out policies being bought using false details, meaning that it is vital customers provide accurate information when taking out a policy.
According to the Association of British Insurers, insurance fraud costs consumers more than £1.6 billion every year.
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