Insurance

Insurers battle fraudulent claims amidst recession

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From left: Head, Corporate Affairs Nigerian Insurers Association, Davis Iyasere; President National Association of Insurance and Pension Correspondents (NAIPCO)
Mrs Omobola Tolu-Kusimo; Director-General, Sunday Thomas and Director Technical, Legal and Admin, Mrs Olawunmi Idewu, during a courtesy visit of Executives of NAIPCO to the association in Lagos.

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Chuks Udo Okonta

Insurance operators are battling the challenge of fraudulent claims brought about by the economic recession, Inspen has learnt.

It was gathered that the recession has forced many insured to consider insurance as resort of making quick money to meet their financial maladies.

The Director-General Nigerian Insurers Association (NIA) told Inspen that underwriters, in recent times have been contending with the challenge of fake claims, stressing that to outsmart the fraudsters, operators now carry out adept investigations to ascertain genuine claims.

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Executives of NIA and NAIPCO

He noted that the amidst challenges, operators are also living up to their responsibilities in paying genuine claims, stressing that the vices been perpetuated by fraudsters would not deter insurers in settling claims of those who actually needed to be indemnified.

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