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The General Insurance Association of Malaysia has said that fraudulent claims account for some 10% of those paid out last year in the country at a cost of $109m.
The association’s executive director Lim Chia Fook said that studies by international insurers operating in the market found that one on ten of the claims paid out last year were in some way fraudulent. He said that the figure was indicative of the fact that the study had taken a detailed look at the country’s claims and that the country’s insurers were finding it difficult to obtain the evidence needed to reject claims they felt were not wholly genuine.
This News item appeared in issue 108 of JTW News - September 2006
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