Insurance fraud drives up Australian rates

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Insurance fraud drives up Australian rates

Report finds 30 percent spike in suspicious claims in one year

Australian Broadcasting Corporation on June 2, 2016

Insurance claims are on a steep rise in Australia. A report by Insurance Australia Group says that even though road accidents in Sydney have decreased, compulsory third-party insurance claims have gone up by 39 percent.

The Australian Broadcasting Corporation said the report found a 30 percent increase in suspicious insurance claims is behind the rising rates.

Read: Top 5 types of insurance fraud

David Hertzell, who worked to curb a similar problem in the UK, has been brought in to advise IAG on the issue. He said the biggest profiles of fraudulent claims seen in Australia have been in motor accidents and personal injury claims.

Listen to Hertzell’s full interview with ABC.

 

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Insurance fraud drives up Australian rates