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Insurer reports more fraudulent claims

INSURANCE fraud is increasing in Slovakia according to Allianz-Slovenská Poisťovňa, the largest insurer in the country, with the firm reporting that it had detected 1,347 cases of non-life insurance fraud in 2011, a 48-percent increase from 2010, the TASR newswire wrote in early February. Because the insurer’s investigators spotted the frauds it did not pay claims that exceeded €2.217 million, according to TASR.

INSURANCE fraud is increasing in Slovakia according to Allianz-Slovenská Poisťovňa, the largest insurer in the country, with the firm reporting that it had detected 1,347 cases of non-life insurance fraud in 2011, a 48-percent increase from 2010, the TASR newswire wrote in early February. Because the insurer’s investigators spotted the frauds it did not pay claims that exceeded €2.217 million, according to TASR.

Investigators from the special activities’ department of Allianz-Slovenská Poisťovňa have reviewed over 6,500 insurance claims since 2004 that may have been fraudulent, with damage claims exceeding €24 million. The insurer has filed criminal complaints in 664 cases since 2004.

TASR wrote that with ever-improving technology insurance companies can simulate various kinds of accidents, particularly automobile accidents, and better determine if a claim could be fraudulent.

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