Nigeria: Customers Complain As Insurers Say 90 Percent of Settled Claims Are Fraudulent

 Wednesday, March 19, 2014


Consumers of insurance products and services in the country have accused insurance companies of shortchanging them by using the premiums to pay themselves in the form of management expenses rather than settle good claims and compensate others non-claimants. The umbrella body of insurance consumers in the country, Insurance Consumers Association of Nigeria (INSCAN), made this allegation just as the insurers are crying out that 90 per cent of the insurance claims settled by them are fraudulent, which they however pay just to remain in the good books of insurance brokers and their customers.
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