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Tuesday, December 27, 2016

Fraud by insurance companies

It is quiet shocking that several insurance companies, Zurich, FBD, and Travelers Inc, accused of fraud themselves and after admitting violating the Data Protection Act, have already evaded a criminal conviction for fraud just by donating €20,000 each to charity. A little bit too charitable was given to them I would have thought.

FBD Insurance already admitted in an earlier case that allegations by the company accusing an elderly couple of fraud, which was based on an ‘anonymous call and letter’ to them, were totally unfounded. They had even claimed too that the fire that destroyed their house was not a risk covered. Thankfully the judge this time was on the side of right and insured that the couple got their just claim settled.

It will interesting times now to see how the insurance companies will handle the many flood and storm claims filed against them this winter. The small print that may not have been read by an unsuspecting claimant will surely never be forgotten should that fine print reduce their claim to zero. 

In future, when I see that advertisment again on television about insurance fraudsters putting there hand in our pockets, the only thing that will come to mind will be the insurance companies themselves.

Barry Clifford