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3/16/2009

Case is geared up to fight insurance fraud

Two letters in the ST forum did the job. The motorists are angry and demand that something needs be done to curb the abuses in the motor insurance industry. And Case is making strong statements to muster govt efforts to stop the fraud. Case President Yeo Guat Kwang said, 'It is not fair for the consumers to suffer, at the end of the day, because of all this malpractice in the industry.' It was also reported that GIA has all along suspected 'that some workshops, legal professionals and medical practititioners are working hand in glove in making these claims.' While professionals are involved too! And all these have been going on for so long and no one does anything to it or nothing can be done to stop it? Hey, this is highly efficient Singapore! So what are we going to do about it? The insurance companies have done the Singapore thing, throw more money into it by raising insurance premiums to solve the problem. Would more money be thrown into it to help the motorists? Or maybe we shall second a few supertalents to solve this difficult problem.

6 comments:

Jaunty Jabber said...

Their action should not be a synchronized one, premium adjust upwards, all up at the same time is monopolizing the market.

Did Singapore compare the motor premiums, claim rates and other factors with other countries.

Seems that there is always only 1 way to solve all the problems > by penalizing the people's pocket. Traffic Jams > ERP. Road Congestion > COE, etc.

Anonymous said...

Well, the Government I think also knew about the 'phantom workers' problem for a long time. They just kept one eye closed for years because employers needed the foreign workers badly, and they were collecting good money from the levies. So, why kill the golden goose and stop the practice.

Now, because of the JCS, which I think these phantom workers are also entitled, the Government had to take action because taxpayers are complaining and the need for foreign workers is easing.

So you see, malpractices are not necessarily unknown, but rather a question of whether they want to take any action or not. Same with the minibond issues and structured products.

Case? It is just a sleeping watchdog, barking occassionally when its master gives the order. And it has no bite! Toothless.

Lost Citizen

redbean said...

is it a matter of convenience, priority or they were all too busy?

Anonymous said...

GIA has all along suspected something fishy?

When I read this, I fell off the chair and nearly died laughing.

WTF they care. Just pass the higher costs caused by the malpractices of car workshops and other professional crooks to the motorists lah. So simple one even the kachang puteh man also can understand. Why bother to make police reports on insurance fraud?

CASE? don't make my toe laugh. But one simple question. Where were they all these while?

As for the regulatory body responsible for keeping tab on this sorry state of affairs? May we know why apparently nothing was done to nip the problem in the bud?

And I am glad I am not a member of the AA. It's members may be whining but I've not heard anything strong coming from them. Have you fellas?

Not only Lost but a Bewildered Citizen.

redbean said...

hi lost, don't be like dat lah.

these people are all overworked with so many hats they are wearing. give and take a bit lah. now their priority is in motor insurance and i bet the problem will be resolved in no time.

Anonymous said...

What can the United Nation do to rogue regimes ?

Sorry ! Unrelated to CASE.