Owners Killing Pets Insurance
November 15, 2011 by staff
Figures show fake compensation claims totalled almost £2 million last year, nearly four times more than in 2009.
Some insurers believe owners are getting rid of their pets, by selling or even killing the animal, to get their hands of insurance cash.
Other fraudsters have deliberately harmed their pets in “faked accidents”, while some animals have mysteriously disappeared in order to claim lost or stolen payouts.
Figures released by the Association of British Insurers reveal there was £1,929,900 worth of pet insurance fraud detected last year – up from just £420,000 in 2009.
However, as that figure only represented detetected fraud, the true scale could be far greater.
Investigators also believe some vets may be involved in the scams, as insurers have received inflated claims for unneccessary and expensive treatments.
Pet vetinary records are also difficult to trace, making pet insurance policies susceptible to fraud.
ABI spokeswoman, Sarah Bailey, added: “We have even come across phantom insurers, who claim for a pet they’ve never even owned.”
Last year there were 2.3million cats and dogs insured with the average premium costing £220.
Ms Bailey added that the ABI is now setting up a database of information about insured animals to help detect fraud.
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