UAE – 80% of insurance frauds are not detected
Saturday, 10 31 2015, Category: Insurance and Reinsurance, Country: U.A.E
The 12th Annual Gulf Insurance Forum which ended yesterday in Dubai conveyed that that the doors are open for fraud given the weak defense mechanisms indicating that 80 of insurance fraud cases are not detected.
Mr. Ayman El Hout Deputy CEO of Al Sagr National Insurance Company said that fraud exists in all sectors but which is unique in insurance is the weak defense mechanism of insurers despite the daily fraudulent activities to which they are exposed.
He indicated that the detected insurance fraud cases do not exceed 20% of total fraud cases.
Source: Al Roeya - UAE