FALL IN FRAUD

Life companies reported a drastic decrease in the number of fraudulent life insurance claims to 654 for the first half of this year from the 1651 claims uncovered last year. However, the rand value of the fraudulent claims submitted shot up from R99,5million in the first six months of last year to R122million this year. Gerhard Joubert, chief executive of the Life Offices' Association said: "While claims worth R122million were rejected in the first six months of this year because of fraud, or other irregularities, life companies settled honest claims worth nearly R80billion over the same period." - I-Net Bridge

Life companies reported a drastic decrease in the number of fraudulent life insurance claims to 654 for the first half of this year from the 1651 claims uncovered last year. However, the rand value of the fraudulent claims submitted shot up from R99,5million in the first six months of last year to R122million this year. Gerhard Joubert, chief executive of the Life Offices' Association said: "While claims worth R122million were rejected in the first six months of this year because of fraud, or other irregularities, life companies settled honest claims worth nearly R80billion over the same period." - I-Net Bridge

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