Theft Claim

[JAJ]

Not Happy 79, did you know that the police put a hold on stolen vehicles and stop your insurer from moving them until the police are done with it ? This procees can often take weeks, it just depends on what evidence the police find and if they have a suspect they are interested in. So while its an inconvience for you their is nothing insurance companies can do to speed up the police.... try getting a police report. They legally have 12 months to complete one !

[bc53]

"Agreed. I passed kindy maths"

Well I don't think you learned about percentage in kindy.

"I am happy that you have expanded your knowledge when it comes to insurance fraud"

If you go back to the start, I said "my broker told me", I also said " 1 in 4" I also said "many", but it was you who kept arguing about the correct percentage of insurance frauds.

So!! whether it's 1 in 4, 1 in 3 or 1 in 5, it's still MANY.

BTW, up until you told me about the cut and paste, I didn't know I can do it here, ( no joke, I mean it)

[marky00069]

""In research carried out by the Insurance Council 25% of people interviewed claimed to know somebody who has committed insurance fraud, 20% endorsed the padding or exaggeration of an insurance claim"

Don't know about you marky, but 25% is 1 in 4."

Agreed. I passed kindy maths.

But 1 in 4 knowing someone doesn't mean in 1 in 3 claims are fraudulent. Although I am happy that you have expanded your knowledge when it comes to insurance fraud.

[bc53]

so what you're saying manfredh is, you think that some of the 25% of the people in this research might know just one person who defrauded an Insurance company, in that case the research had to be conducted in maybe a small area for many people to know one person who did, I think that a research is conducted all over the country and the possibility of a few people knowing the same person is highly unlikely.

[manfredh]

The proportion of people who know someone is going to be greater than the number of actual people involved. If 9 people have 1 friend, they all know that friend (100%), but only one of them is that person (10%).

People may not tell all their friends, but as long as they do, then the number will be higher.

[bc53]

yepp, I suggest you tell this to the Insurance council of Australia

Do you expect the actual people who defraud the system to come forward?? of course it's all based on research so lets focus on the word "research"

[yepp]

"In research carried out by the Insurance Council 25% of people interviewed claimed to know somebody who has committed insurance fraud, 20% endorsed the padding or exaggeration of an insurance claim"
Les's focus on the word "claimed" for a sec.
Heresay is hardly evidence.

[bc53]

This quote was cut and pasted from the Insurance council of Australia website.


"In research carried out by the Insurance Council 25% of people interviewed claimed to know somebody who has committed insurance fraud, 20% endorsed the padding or exaggeration of an insurance claim"

Don't know about you marky, but 25% is 1 in 4.

[bc53]

Out of interest, why doesn't your broker report fraudulent claims or decline to lodge them (after all the broker is representing the insured). A lot to risk for what would be a nothing return.

I don't know didn't ask him, maybe he does.

[marky00069]

"300 claims in the last 12 months, wow that's a lot"

Thats how many I have handled personally, just so you weren't thinking my experience re insurance fraud is based on 5 claims or so. And yes- they were across all sectors- domestic, commercial, liability, workers comp etc. In the scheme of things its not a lot but based on your comments bc I take it that its more than you have been involved in.

"you're very good at repeating everything I say"

Actually thats quite easy- its called copy and paste. It allows you to understand which part of your comment my response is targetted towards.

"then making some naive comments, like your last paragraph"

not naive at all- you would be surprised how good most assessors are at working out whether damage was pre-existing.

"I suppose your assessors have an xray eyes or are some super human".

No. Take motor vehicles for example- pre-existing damage is pretty easy to spot (rust/hail damage shows easily).

"I had an assessor at my house once, she didn't know s**t."

That can happen sometimes, usually due to inexperience on their behalf. With some insurers moving to a builder-assessor model (where the builder determines the scope of coverage) the level of inexperience is rising in some areas. I personally disagree with this model and prefer a dedicated assessor every time.

"I stand by what my insurance broker told me."

The Insurance Council on their website state 10-15% of claims exhibit fraud 'indicators'... bit more than the claims I deal with, but half of what your broker says (once again I stand by my first comment that 1 out of every 3 claims being fraudulent being very high).

Out of interest, why doesn't your broker report fraudulent claims or decline to lodge them (after all the broker is representing the insured). A lot to risk for what would be a nothing return.

[bc53]

300 claims in the last 12 months, wow that's a lot!!! Can you tell us how many insurance claims are made overall in 12 months in Australia?? 500,000? MORE?? you're very good at repeating everything I say and then making some naive comments, like your last paragraph, I suppose your assessors have an xray eyes or are some super human, I had an assessor at my house once, she didn't know s**t. I stand by what my insurance broker told me.

[marky00069]

"if you don't like my broker's statistics then go and do some research and then ( and only then) correct me if I'm wrong,"

I have plenty of research- they are called claim files (over 300 from the last 12 months).... I would say less than 5% were 'fishy'. And none were denied due to fraud.

"Now let say that someone run up the back of your car, and let say that your bumper bar was already damaged before, except now it's even worse, are you going to tell your insurance that it was damaged before, or are you just going to let them fix it and keep your mouth shut??"

Insurance companies have a way of finding pre-existing damage- they are called 'assessors'..

[bc53]

"Maybe he needs some better clients"

Listen marky, if you don't like my broker's statistics then go and do some research and then ( and only then) correct me if I'm wrong, and if I'm wrong then fair enough, so it might be 1 in 4 claims, who cares, but we all know that there are MANY insurance claim fraud, and I say MANY!!!

Now let say that someone run up the back of your car, and let say that your bumper bar was already damaged before, except now it's even worse, are you going to tell your insurance that it was damaged before, or are you just going to let them fix it and keep your mouth shut??

[marky00069]

"From my insurance broker."

Maybe he needs some better clients because thats not the statistics I see...

For 1/3 of all claims to be fraudulent (ie to be declined for that reason).... I think not.

[bc53]

From my insurance broker.