Public Insurance

Posts Tagged ‘Life Insurance’

Although not as big as loss insurance, both in number and frequency, does not mean that insurance fraud in life insurance do not need to get serious attention. Based on data in Germany, the total claims paid in 1990 reached DM 56 billion. This amount is greater than the total claims paid by insurance losses of around DM 52 billion. Suppose insurance life insurance fraud in only 1% of total claims, with the assumption that most of the benefits paid in the form of maturity, which means large claims should not be paid is approximately DM 500 million.

However this is not fixed quantities. It is the obligation of the insurance industry to develop preventive measures in dealing with insurance fraud, especially to protect “the honest client against having to help pay for fraudsters”. In this case insurer and re-insurers are in the same position. Insurer Fraudster will immediately be faced with in the settlement of claims and the re-insurer will provide input by sharing information, experience, training, etc..
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