Insurance fraud on increase in Singapore
Scams vary from over-inflating a loss to making claims for fictitious thefts and going as far as filing police reports
AIG has seen a 130 per cent increase in such claims, from 21 in 2014 to 49 last year.
Estimates go as high as 20% of travel claims are overinflated or fraudulent.
Comprehensive article detailing different cases and motivation behind fraud. Good start to a dialog.
Read full article on
Straitstimes
Disclaimer
This website is intended to provide general information, news summary and share author's personal views only and should not be taken as a base for a financial advise. It has been prepared without taking into account any particular person's objectives, financial situation or needs. Investors should, before acting on any of information in this website, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain financial advice specific to their situation before making any financial investment or insurance decision.
