Grapevine

Fraudulent claims, threat to the insurance industry – Yeboah-Asuamah

Kumasi Oct. 08 GNA – Mr. Kwaku Yeboah-Asuamah, Chief Executive Officer of MiLife Insurance Company, has expressed grave concern over attempts by some people to fraudulently obtain claims from insurance companies.

He said the threat of insurance fraud was becoming a major concern, which if not addressed, could put the entire insurance industry at risk.

He said: “Fraudulent claims divert resources meant for genuine cases, putting the entire system at risk.

“Let me be clear, fraud is illegal, and those involved could face severe consequences, including jail term.

“For example, we have encountered cases where professionals falsely reported the deaths of their parents, only for investigations to reveal the truth”, he told a gathering of teachers, as part of the company’s Customer Service Week celebrations in Kumasi.