4/22/2009
Motor Insurance Scam
No evidence does not mean that there is no fraud or cheating or false claims. And the culprits are a whole lot of people involved in the chain if what the insurance people claimed to know. And everyone is happy. Too difficult to unwind the mess. Insurers simply pay up or face an expensive lawsuit. Cheaper to pay and charge it to the innocent motorists in the form of insurance premiums. What the hell is going on?
What kind of country are we becoming when scams of such a huge nature affecting hundreds of thousands of innocent motorists could just be ignored with a shrug of the shoulder? Are we going to accept that this is the societal norm, that cheating can go on because it is too troublesome to nail the culprits?
Actually I don't think it is that difficult. Hang a few of them, jail them or make them pay hefty fines and put their faces on the front page of the newspaper, be they CEOs, workshop owners, doctors, insurance surveyors or lawyers or the motorists involved in the scam.
We cannot become another Nigeria! Is our country going to the pigs?
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9 comments:
Excessive claims have become a norm. If you lose a dollar claim for 10. Why not? everybody doing it, so why not you benefit from this normal practice? If you feel that the premium is too high make a claim and compensate for the high premium. This is normal practice here in this money minded society of Singapore.
Uniquely Singapore!!!
i will take your suggestion. if cannot win them, join them. : )
You don't have to have fraud or cheating to prove a "scam".
For e.g. in Multi Level Marketing there is often no fraud or cheating, but the schemes are scams.
The same for religion, and for the most part — politics.
The unlawful arrangement between some motorists and workshops was to work hand-in-hand, after filing huge claim to insurers, they split up the claim sum. To the workshops, is good profit. To the motorists, he get some "rebates" to the premium paid.
Such malpractices are happening yet it seems that there is no good control measures to arrest the issue or even to counter it. Somehow someone just come out with an only solution which is to increase the premiums.
When you can't aim properly to kill some, kill all.
Just admit it we are all pig (except decent honest and hard working(naive)).
who is responsible to clear the mess?
There is no mess. Everyone is making some extra money. In the money-obsessed society that is Singapore, that's all good, Redbean.
ok, that is another way of looking at things. it is just the economy and as long as the economy is turning it is good.
Who says Singaporeans are not creative? We can hold our own against the gweilos in the Con game. Heck, I reckon it's only a matter of time before a Bernie Madoff rises amongst us. Or has he already, just unbeknownst to the lesser mortals? Oops.
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