Recommend Us | About Us | Back to Bernama.com

News | Financial Calculator | Home Financing | Archived News |

 

  Welcome to Bernama Banking & Finance Special Page     
 
Allianz Stops RM5.6 Mln Of Fake Insurance Claims
Last update: 18/07/2017

KUALA LUMPUR, July 18 (Bernama) -- Allianz General Insurance Company (Malaysia) Bhd has stopped bogus insurance claims worth RM5.6 million between 2014 and 2016.

Head of Claims Jayapragash Amblavanar said insurance fraud was a growing concern in Malaysia and the company reported an average of at least six fraud cases per month between 2014 and 2016.

"Single digit cases being reported in a month may not seem like a big problem to some, but†it shows that insurance fraud is very real in Malaysia.

"So our commitment towards fraud control means being proactive and willing to take the necessary steps and put in place better controls to nip the problem in the bud," he said in a statement today.

Fighting off fraud enables†better financial freedom and flexibility for Allianz to offer far better priced products to customers, he said, adding that†it would also cement†the company's reputation as insurer that customers could†trust to do the right thing.

--†BERNAMA†

† † † † † † †† † † †


 <Back>

Maybank Islamic Named Best Global Islamic Financial Institution 2017
NCCIM: Malaysia, Qatar Can Jointly Develop Islamic Finance 2.0

 
KLIFF 2017 Focuses On Wakaf Fund Development

AAGI Named Claims Fraud Management Team Of The Year
Tax Relief For Insurance Will Be A Big Breakthrough, Says Allianz Life CEO

 
Takaful IKHLAS Chieftain Bags Best CEO 2017 Award

MIDDAY, THURSDAY, OCT 19
US 4.2250/2270
S'pore 3.1087/1113
100 Yen 3.7399/7427
Sterling 5.5808/5847
Euro 4.9851/9879
Source: Bank Negara Malaysia

Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?
 

 
  Main | News | Insurance

© 2017 BERNAMA. All Rights Reserved. Disclaimer | Privacy Policy| Security Policy
This material may not be published, broadcast, rewritten or redistributed in any form except with the prior written permission of BERNAMA.
Best viewed in Firefox 8.0 & Internet Explorer 8.0 with 1024 x 768 resolution