Insurance News
- Frauds take 20% of insurance payouts
Date: 22-Nov-2007 Sources: (Shenzhen Daily)
TWENTY percent of insurance payouts by insurance companies in Shenzhen is obtained by fraud, according to a Southern Metropolis Daily report yesterday.
The amount of money cheated is estimated at 10 million yuan annually, the report quoted an industry insider as saying. To avoid the problem, insurance companies have set up a reward system for information about fraudulent claims and will put the offenders on a black list.
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