Fraudulent claims down

7 October, 2006 at 9:23 am | Posted in Economy | Leave a comment

The value of fraudulent life insurance claims in the first half of this year dropped to R99.5 million from R175.2 million in the same period last year, the Life Offices’ Association said yesterday. This was a decline of almost R76 million.

“The reduction in claims fraud from January to June this year was a welcome respite after fraudulent claims spiked by almost 40 percent last year compared with 2004,” said spokesperson Lerato Mametse.

Claims worth R99.5 million were rejected in the first six months of this year because of fraud or other irregularities and life firms settled claims worth R70.9 billion in the same period.

(BusRep)

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