Egypt – Black list for insurance fraudsters
Wednesday, 12 28 2016, Category: Insurance and Reinsurance, Country: Egypt
The Insurance Federation of Egypt is preparing a “Black List” for customers who commit fraud and abuse in order to obtain compensatiosn for which they are not eligible in a step aiming at limiting losses.
“Al Mal News” was informed that the “Black List” will include the customers of life insurance in order to uncover all individuals who practice fraud. The list will also be used for persons who buy new coverage in order to check whether the customer who is an insurance applicant is included or not in the list. It is similar to the credit information “I. Score”.
An insurance expert said that the objective of the databased is to limit ineligible claims, which reflect negatively on the insurance market, indicating that such information will be updated regularly.
Source: Al Mal News