Ebola: Health insurance companies remain cool but alert - 1 views
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Insurance Scams That Needs To Be Avoided - 1 views
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carterhancock on 02 Mar 15In order to gain more money in the now so-materialized world, people and companies have thought of things to gain out of greed. Insurance agencies are no exceptions especially in places which have lose insurance policies like Jakarta in Indonesia, South Africa and Cambodia. The Federal Bureau of Investigation (FBI) had released the most common insurance fraud used by the insurance companies. Premium Diversions It is considered as an embezzlement of insurance premiums and is considered the most common type. This happens when the insurance agent doesn't wire the money to the insurance company and keeps it to himself. Other form of premium diversion scam involves selling policies without license, collecting premiums and then not paying claims. Payers are advised to keep track of this kind of fraud by knowing and verifying the legitimacy of the agent. Asset Diversion This large-scale scheme involves theft of insurance company assets held to pay valid claims. This most frequently occurs as insurance companies merge, reorganize or change ownership. Fee Churning In this scheme, a group of people set up a company that will eventually fail. The business gets involved in reinsurance agreements, and people in different steps of the process pocket commissions. The amount of a premium is cut by each repeated commission until the money to pay claims runs out. This scheme lasts as long as it does because each individual move looks normal as it occurs. The full picture emerges only after the damage is already done. How to report Insurance Fraud 1. Report fraudulent behavior to your state's insurance frauds bureau. 2. Contact the specific insurance company's fraud hotline if one is available. 3. Turn in the social security fraud perpetrators. 4. When you are reporting the scheme, make sure to give all pertinent details and any other documents that may help. Be Wise. Act Wise. The most important factor before buyi
Starting a Nidhi Company in India Register Nidhi Company Online, Nidhi Company Registra... - 0 views
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Starting a Nidhi Company in India Register Nidhi Company Online, Nidhi Company Registration Process the first step is company formation ,& Pvt ltd company registration
Insurance Fraud Detection System on the Rise - 1 views
Independent research conducted by Axis Capital Inc. to its group of insurance and reinsurance companies shows gathered data from its head office in Bermuda to its branches in Singapore, Australia, ...
Understanding insurance fraud - 2 views
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When somebody gives fake info to an insurance company just so it can take advantage of anything of worth that the offender would not have collected if the reality had been stated‚ they've performed insurance fraud. Even though you under no circumstances will catch yourself involved in of one of its immoral scams, on the other hand auto insurance fraud affects you. Industry professionals articulate it decelerates genuine insurance claims, upturns premiums and, in some circumstances, places unknowing victims at risk. Just about every person knows and heard about insurance fraud. Jakarta insurance fraud protection group is fully aware of this problem. Every one of us have learnt the reports of people who collected large amount of money following a car accident or the merciless insurance firm declining to disburse to a widow due to a technicality. Dating back to 300 B.C., insurance fraud is one of the aged kinds of fraud ever documented. The story goes like, when a Greek trader sunk his own ship, in an effort to redeem on the insurance, and died in the attempt due to drowning. Insurance fraud have an effect on you, either it be you are a policyholder or a shareholder in an insurance company. The matter of insurance is extensive and swindle happens in every single part. Insurance fraud takes two to tango; it comes in two chief categories: one is the seller fraud and the other one is the buyer fraud. Seller fraud happens when the seller of a policy takeover the normal procedure, in a method that make the most of his return. Buyer fraud follows when the buyer turns the manner to get more coverage, or obtain more money, compare to what he is lawfully allowed to. Don't allow a tall tale ruin your life or that of somebody you are acquainted of. Understand more regarding insurance fraud. Be familiar wi
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Insurance fraud costs billions of dollars every year. Insurance fraud includes a number of illegal activities involving the sale of insurance, and often involves criminal schemes. One kind of insurance fraud targets unsuspecting policyholders in Jakarta, Indonesia. Many individuals are deceived when they buy worthless insurance policies. When disaster strikes and policyholders seek reimbursement for damages, they find they have no coverage. Con artists can take advantage of their victims' lack of English, cultural traits and deep-seated habits. Recent immigrants from Asian countries do not realize that unscrupulous individuals purposely set out to confuse people who don't speak English well. Insurance contracts are complicated. They are usually written in English. Newcomers probably have little or no knowledge of insurance laws and regulations. Scam artists prefer to prey on unsophisticated consumers. It's natural for newcomers to feel more comfortable around people of the same background, and to trust people who speak the same language. Almost everyone prefers to do business with someone who has been referred to them by a relative, friend or co-worker. But no matter who referred you to an insurance agent or company, it's important that you check them out. If you take a few steps outlined here, you can limit the odds of becoming a victim of insurance fraud. It's up to you to protect yourself! Insurance is very complicated. You may have need of life insurance, health insurance, homeowner's insurance and auto insurance. There are many variations on all of these types of insurance. Agents are licensed to sell specific types of insurance, so make sure the agent has a license for the kind of insurance you need. Take these Axis Capital Group review of insurance fraud protection at Axis Capital, a group o
How Insurance Companies Spot Insurance Scams - 1 views
Insurance companies like Axis Capital, a group of companies in Bermuda with many offices worldwide, have many means to spot insurance scams, and a lot has complete fraud detection departments assi...
Axis Capital Holdings Limited Graded A+ by Various Financial Analysts - 1 views
Axis Capital Holdings Limited and its operating subsidiaries have been rated A+ Insurer Financial Strength (IFS) by Fitch Ratings. The Rating Outlook is Stable. The insurance company has a h...
Traveling Abroad: Will You Still Be Covered? - 1 views
There are so many existing insurance companies nowadays and more accidents that happen every minute. We cannot predict what happens to us, when and where it will happen, especially nowadays that...
Insurance Regulation in Asia Pacific - 1 views
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Insurance Agent Legitimacy - 1 views
In today's time, you can buy your insurance policies through different ways from middle-aged women, toll fee or through the internet. If your insurance needs are just simple like getting insurance ...
Possible Reasons you are turned down for Life Insurance Application - 1 views
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It really is frustrating when you get rejected so many times when you are applying for one of the most vital necessities in our lives nowadays. Before you get frustrated and file any complaints against your insurance company, you should first understand the possible reason behind it. The following are existing general policies in the insurance industry. Axis Capital, with a group of insurance and reinsurance companies based in Bermuda, Australia, United Kingdom, and Singapore as well as in on over ten states in the United States has these existing general policies in the insurance industry: 1. You have specific health condition Critical health issues may affect your insurance application. Someone who has cancer or has had a heart attack might be declined for a traditional life insurance as they are perceived to require a more special policy and attention. There are, however, people who get declined for life insurance for health reasons simply because they applied with the wrong insurance company. For these cases, you have to inquire to high-risk insurance company to help you figure out the best course of action. 2. You participate in high-risk activities Let's be honest here. The possibility of underrated claim is high during these situations and the insurance company may face a lot of loss. Some professions which also require higher risk may also not be permitted. There are a few insurance companies which can insure scuba divers but this is depending on the type of diving and the frequency of your diving activities. 3. You have some financial issues To get approved for a life insurance, there has to be financial justification. It's would the best time to review your status as soon as possible. If you don't have any income but your spouse does, you can typically get as much coverage as your spouse. If you don't have income and can't financially justify the need for life insurance, you might get declined for a life insuran
Buying Your Health Insurance Online - 2 views
Health Insurance has been recognized in the market as one of the necessities in life since you wouldn't know a tragedy or disaster strikes. Even the government has realized its worth that both priv...
Insurance Industry to Incorporate Social Media Strategy - 1 views
For years, many insurance agents have had the same sales pitch, "review your annual premium… here are the list of what needs doing… the important thing is"… With the advancement of technology, tho...
Limited opportunities in universal healthcare in Jakarta and whole country of Indonesia... - 0 views
Axis Capital, a global insurer and reinsurer, providing clients and distribution partners with a broad range of specialized risk transfer products and services, a group of companies with branch off...
Axis Capital Holdings Limited To Go Ex-Dividend on June 26th (AXS) - 1 views
Axis Capital Holdings Limited (NYSE:AXS) declared a quarterly dividend on Thursday, May 8th, American Banking News.com reports. Shareholders of record on Monday, June 30th will be given a dividend ...
Axis Capital, Bermuda: Health Insurance Portability - 1 views
Axis Capital, a group of companies that serve a host of industries and diverse coverage needs through our operating subsidiaries and branch offices in Bermuda, Australia, Canada, Europe, Latin A...
The Future of Insurance - 1 views
A lot of experts have their own outlook on what the future would look like five or ten years from now. Every year, certain reviews and statistics are being presented to help businesses prepare for ...
The Future of Insurance - 2 views
A lot of experts have their own outlook on what the future would look like five or ten years from now. Every year, certain reviews and statistics are being presented to help businesses prepare for ...
What is the Correct Way to Guard Businesses from fraudulent insurance claims - 1 views
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Because of its commonness in all kinds of businesses, insurance fraud is often hard to avoid exclusive of security measures like security personnel and cameras. Mainly in businesses that have client that go inside their premises, these types of businesses must be watchful against insurance fraud. This could be as difficult as spotting property insurance claims, to know more about this topic, read on Axis Capital, a group of companies based in Bermuda and offices worldwide. An example subject is property insurance fraud review which you can learn personal experiences of victims from Jakarta Indonesia and worldwide. Slip and fall claims, this is one of the hardest fraudulent insurance scams for a business to contest in court. Security cameras are an effective technique for invalidating a fraudulent slip and fall claim counter to a company. Though there are many who think security cameras a costly investment, the forthright price may frequently be balance through the money saved when in disagreement contrary to a fraudulent insurance claim. Security personnel are one more technique companies could use to make an effort to decrease the number and seriousness of fraudulent insurance claims. Alert, skilled security personnel are an effective approach to watch on customers and assist prevents any illegal doings at business sites. Business owners who have clients, or the ordinary people, going in and out of their locations everyday have to capitalize in some type of visual security. This may rule over the "he said, she said" aspect prevented in an insurance claim in court. Witnesses, including video, would significantly decrease the quantity of insurance fraud a company has to take care of. One more technique that may be used by companies to spot fraudulent insurance claims is to trace all kinds of claims touching their insurance. Study into documented fraudulent claims may help business owners in detecting kinds of claims which are more lik
Identifying Seller - 3 views
There are a lot of differences of seller fraud; however, they altogether base over four basic varieties. The premium theft setup is when the insurance representative receives premiums, however, ...