Insurance cos lost Rs.30,000 crs due to frauds in 2011

Mar 6

Insurance cos lost Rs.30,000 crs due to frauds in 2011

Indian insurance companies have borne a loss of over Rs 30,000 crore in 2011 due to different kinds of frauds, a study has claimed. It cited collusion between the employees of insurers and private persons, document falsification and manipulation in citing cause of death to claim insurance benefits, as some of the reasons behind these frauds.
http://economictimes.indiatimes.com/personal-finance/insurance/insurance-news/insurers-lost-over-rs-30k-crore-due-to-frauds-in-2011-says-study/articleshow/12132916.cms

 

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