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7/09/2010

Insurance cheats rounded up

A gang of motor insurance cheats were arrested and would be charged in court. The mastermind was on the run and living in tents in parks and beaches before finally surrendering himself to the police. This gang, 16 of them, was supposed to have cheated more than $100k in claims, forging injury etc. I hope among those arrested will be the medical and legal professionals who assisted in forging medical and legal reports. The fact that this group only cheated about $100k also tells us that this is a small fry and there are many bigger fries out there that have escaped the dragnet. The motor insurance industry has claimed to have been cheated of several hundred millions in claims. What is $100k? In the meantime the losses were passed to the motorists who see their insurance premiums just going one way, like many other things here, up, up and away. And it was not even the motorists faults. Just pass the buck to the consumers.

5 comments:

Wally Buffet said...

Absolutely spot on. Like the loan shark curse, these little fries caught are merely the runners. Dig deeper and you will see the bigger crooks, the legal and medical ass wipes in cahoots with even some higher scumbags in the food chain.

$100k out of several hundred millions? Where's the balance? Boys in Blue, you guys have a lot of work to do. Have a suggestion for ya. Form a specialized "Insurance Fraud" unit and clean up the motor insurance cesspit once and for all. Give us, the good motorists who have never made a claim in our entire lives a break willya?

Let us save some money to buy some nice things for our grand children.

Anonymous said...

Insurance companies got cheated??....? Unbelievable man!

Me read so many claimed in the Net that they got cheated badly by Insurers. Me reckons meself am a victim myself too as the return for my policy is lower than the sum paid. However, as it is such a tiny policy, never mind la.

patriot

Anonymous said...

I think it is high time. Honest policyholders have been made to bear all the consequences of such fraudulent practices.

On the other hand, the insurers themselves are not so transparent with policyholders. I have been short-changed too, but since my policy was also tiny, never mind, just a case of once bitten twice shy. I never, ever buy any insurance from them again.

Wally Buffet said...

Gee Patriot,

The only insurance policies you want to buy are the following:

1. Travel insurance.
2. Personal Accident Insurance.
3. Hospitalization ie like medishield.
4. Motor insurance and even then, buy only third party because comprehensive insurance is a no win cover.

The rest like investment linked life insurances are all one big con.

The insurers never got cheated. We, the insured kenna fucked when each time they got "conned", we have to dig deeper into our pockets.

All those useless martherfockers working in the claims department of insurance companies should be sacked for incompetence or be under investigation for collusion to defraud.

Anonymous said...

Hi Wally:

too much apathy from everybody, from leaders to onlookers/bystanders of injustices
plus complacencies and neglects has to lead us to where we are now.

Holy shits everywhere.

Keep yourself healthy ah, in body and in spirits!

patriot