60% life, health insurers see rapid rise in fraud
About 60 per cent of Indian insurance companies are seeing a rapid increase in insurance fraud, especially in the life Read more
INSURANCE FRAUD
Insurance fraud: 5 arrested on charges of fake life insurance claim
Five fraudsters have recently been arrested in Nalgonda, Telangana with the charges of being involved in fraudulent life insurance claims Read more
6 people arrested for Rs 80 lakh insurance fraud
The Kalyan crime branch unit of Thane police arrested six people, including two Mumbai based doctors and a Thane civic-run Read more
Insurance Ombudsman rejects Flood Insurance Claim on account of fraud
Case No: CHD-G-005-1516-0515 In the matter of Mr Bashir Ahmad Vs. Bajaj Allianz Insurance Co. Lt. Insurance Ombudsman Date – Read more
Fraud Survey Report 2012 India: Corporate India not equipped to deal with futuristic fraud: KPMG India
- Cyber crime, Intellectual Property fraud (including counterfeiting and piracy) and Identity theft identified as frauds of the future
- 70% have no effective mechanism to tackle these futuristic frauds
- Fraud is an inevitable cost of business : 71% of respondents
- Industry reluctant to discuss bribery and corruption Read more
R Kannan, a former IRDA member found guilty of forgery
A disciplinary panel of self-regulatory insurance body has found one of its high-profile members guilty of forgery. Read more
Insurers lost over Rs 30k crore due to frauds in 2011, says study by Indiaforensic
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. Read more
Man gets life sentence for wife’s murder to get insurance claim
The district and sessions court of Ajmer, Rajasthan recently sentenced a man to life imprisonment for hatching a plot in which his wife of 17 years was murdered in cold blood so that he can claim her insurance.
Read moreLimitation period is key to insurance claims Subject: Misinterpretation of judgment causes havoc in insurance cases.
Backdrop: The limitation period means the time within which a person must file his case before a judicial authority for exercising Read more
Insurance : Industry On Growth Path
Indian insurance industry is booming. With the stock market booming and with more disposable incomes in the pockets of young and the employed, life insurance in on an upswing and the industry can expect 40% growth in 2005-06 with the right strategies. Read more
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