Allianz Commercial reports detected fraud up 11.2%
Allianz Commercial has revealed it detected £70.7m worth of insurance fraud in 2022, up 11.2% on the £63.6m uncovered the year before.
The insurer noted that property and casualty saw the greatest increase in fraud savings against the prior year. Despite the number of fraud cases declining, it said the value of each case increased to record levels.
Allianz Commercial added that this trend may indicate a move away from traditional types of motor fraud such as crash-for-cash scams, although these remain a major issue.
Related Blog: Commercial insurance fraud risk rises when data is taken at face valueThe smaller
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