Owners Killing Pets Insurance – Some owners of pets are killing the animals by staging the disappearance to scam insurance companies by filing fraudulent claims. It’s a weird way to use their own animal for cash, but people in the United Kingdom are doing just that.
First it was spurious claims for whiplash and other injuries, then it was “crash for cash,” but now animals are being used for money.
Dishonest claims on animal policies almost quadrupled last year, making it the fasting growing area of insurance crime.
Figures from the Association of British Insurers show there was Â£1,929,900 worth of pet insurance fraud detected last year — up from just Â£420,000 in 2009.
However, the true scale, is thought to be far higher and pushing up the average Â£220 premium. A total of 2.3 million cats and dogs were insured last year and virtually every type of animal can be covered.
The Association of British Insurers is arranging a shared database of information about insured animals to detect fraud.