New Bureau Ready to Tackle Insurance Crime

With insurance crime costing short-term insurance companies more than R2 billion a year and increasing, the industry was launching an Insurance Crime Bureau (ICB) to tackle fraud, Viviene Pearson, the stakeholder relations manager at the SA Insurance Association, said yesterday.

Pearson said that the bureau would curb escalating insurance fraud. "Among other things, we have noticed that when interest rates spike, insurance fraud also increases.