Take These Steps To Avoid Falling For Insurance Fraud In UAE

Take These Steps To Avoid Falling For Insurance Fraud In UAE

What is Insurance Fraud?

Insurance fraud is a victimless crime, yet it causes millions of money by increasing the cost of commodities and premiums. It is hard to estimate the exact cost of Insurance fraud investigations UAE since many cases go unreported. You can reduce this swindling practice by learning how to recognize it and report it to the proper authorities.

Examples of Insurance Fraud
• An employee collecting their compensation benefits before the end of their employment term
• A doctor billing an insurance company for services not rendered
• A driver faking an accident with the help of unscrupulous lawyers and doctors
• A homeowner filing false claims about assets being stolen
• A driver and mechanic inflating the car damage claim to share profits

Consumers should take these steps to reduce the risk of being defrauded.

Stay informed

Insurance premiums are quite expensive for many people. The amount of premium depends on the history of claims and the potential risk. The higher the risk, the higher the premium amount. Some cars tend to have more theft claims than others.

Deal With Licensed Agents and Brokers

Many times, consumers are tricked by unscrupulous brokers and agents. They only come to realize this after filing a claim with zero coverage. If your uninsured property is damaged, you will be fully responsible for paying back the mortgage holders and restoration. If you are involved in an accident driving a vehicle without insurance, you can be b sued for damage, and your assets will be forfeited. As such, you must deal with licensed insurance agents only. Ask to see the proof before making payments.

Retain the policy document

Your insurance company should give you a copy of the insurance policy with full declarations and endorsements. Read the limitations of the coverage and ask your agent all the burning questions.

Only Pay for Services Received

If you have received dental or medical treatment covered by your healthcare provider, you should get an explanation of benefits with all the services that the insurance covers. Review the list carefully to ensure that you haven’t been billed for services not rendered and dates not treated. Some exploitative doctors bill patients for more expensive procedures than they offer in reality. This is the infamous practice of up-coding. If you suspect any discrepancy, contact the insurance provider immediately.

Report Suspected Insurance Fraud

Insurance fraud investigations UAE are the best risk protection measures from all types of bogus claims. Talk to our experienced investigators to avoid incurring huge losses. With extensive knowledge in the insurance industry, we can figure out facts and give detailed information about claims. Talk to us for a wide range of solutions to help you undertake the right decision effectively.

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