Fraudulent Motor Insurance Claims
Insurers to combat fraudulent claims A group of insurance professionals is forming a working group to find ways to combat fraud, especially exaggerated and inflated motor claims. The group, which will be formed in the coming months, will be made up of representatives from the General Insurance Association of Singapore (GIA) and its members, and aims to tackle the problem in a structured and systematic way. GIA president Derek Teo said in an interview with The Straits Times that although the industry has made progress in fighting certain aspects of insurance fraud, there are still loopholes to be closed. source>> Singapore steps up efforts against fraudsters At least 3 masterminds of motor insurance fraud scams were sentenced to jail over the last 2 years, says MAS. In a welcome address delivered by Luz Foo, Executive Director, Monetary Authority of Singapore at the GIA Combating Insurance Fraud Seminar yesterday (July 25), the official boasted that