Fraudulent claims are on the rise amidst economic recession in the country, the Director-General, Nigeria Insurers Association (NIA), Sunday Thomas, has said.
He made this known while fielding questions from members of the National Association of Insurance and Pension Correspondents (NAIPCO) when the group paid him a courtesy visit in Lagos.
The NIA chief said the recession has forced many insured to consider insurance as the way out to make quick money to meet their financial needs.
He stated that underwriters in recent times have been battling with the challenge of fake claims. “To outsmart the fraudsters, operators now carry out deep investigations to ascertain genuine claims,” he said.
He noted that amidst the challenges, operators are also living up to their responsibilities in paying genuine claims, adding that the vices being perpetuated by fraudsters would not deter insurers from settling claims of those who actually needed to be indemnified.
He said: “Some people will think this is the time to look for means and ways to survive, so they will want to make some fraudulent claims. We are beginning to see that coming up and member companies are at alert.
“Underwriters now carry more investigations on claims more than before so that those who are out to defraud the industry are not allowed to do so. These are funds that are put in trust and if those, who are not entitled to it make claims from it, they will deny those who supposed to get the claims.”