20 000 cases of fraud reported by Life Office Association

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According to Life Offices Association (LOA), which represents 95% of the country's companies, the life class of business has reported 20 000 cases of fraud whose damage amounted to 1 billion ZAR (143 million USD) in the recent four years. For 2006 alone, fraud cases rose to 2 844.

Meanwhile, life insurance companies have disbursed 19 billion ZAR (2.7 billion USD) in decease and disability compensations for 2006.

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Wed, 03/04/2013 - 16:59
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