Summary |
Insurance fraud is perhaps the most pressing problem facing the insurance industry. The cost of fraud is immense. It can take many forms and can be large-scale or relatively trivial.
Discussion of insurance fraud necessarily ranges over a wide range of legal and practical issues, including the criminal law, industry initiatives, the interpretation of standard contract terms, the assured’s duty of good faith and common law responses to insurance fraud. The present volume, written by two authors, each with outstanding practical and academic experience and insights, is an excellent guide through the complex maze. The authors define fraud, provide guidance as to the indicia of fraud, examine standard policy terms relating to fraud and consider the implications of fraud at the direct level for reinsurance coverage and in different sectors. The authors then turn their attention to the practical steps taken by insurers to reduce the risk of fraud and the problems raised by the use of databases. Throughout the approach is comparative, and lessons to be learned from other jurisdiction are clearly indentified.
The authors have produced as text which will be starting point for insurers and their advisers faced with a seemingly fraudulent claim. They are to be congratulated in pulling together a complex diversity of sources and producing a concise and readable yet highly informative work.
|
