Motor insurance fraud in Singapore

Drivers who have to renew their motor insurance will be in a state

of shock when they discover that the premiums they have to pay will

be about 30% higher than last year’s premiums.

For years the insurance companies have been aware of fraudulent insurance claims and yet they have not been able to curb the malpractice.

Knowing that the motoring public have no choice in the matter since by law everyone must have motor insurance, insurance

companies clearly do not want to clean up the industry but prefer to pass the buck to motorists.

Action should be taken against motorists and motor workshops involved in the scam. Money spent in hauling some of these crooks to court will be money well spent.

Insurance companies must be more socially responsible. It’s scandalous they keep on whining instead of taking really effective steps to address the matter.

And why are the authorities in a country like Singapore known the world over for its uncompromising stance against fraudulent practices and corruption ignoring the issue?

What do you say?


5 Responses to “Motor insurance fraud in Singapore”

  1. 1. Mine’s due soon and I dread to think how much I have to pay since I paid nearly a thousand dollars for last year’s motor car insurance.

    2. The public must co-operate and report fraudulence to the authorities without fear of reprisal.

    3. To be fair to the motoring public insurance companies must provide discounts for drivers with clean records.

  2. The principle of equal misery for all is grossly unfair.

    Those guilty parties in an accident should be slapped with hefty premiums. Parliament has debated the loan shark issue.

    It’s time they debated this issue of fraudulent insurance claims and provide some relief for the hard-pressed motoring public especially in these difficult times.

  3. Hi this blog is great I will be recommending it to friends.

  4. What really bugs me is this “report every accident, no matter how minor” advice that’s been given. I was involved in a bumper to bumper scratch with another car and like good S’poreans we exchanged insurance particulars “just in case” and reported to respective workshops. Even took photos of each other’s scratches to be safe and agreed we won’t be claiming.

    Now I get my renewal with my NCD cut down to 20% from 50%, and a premium of 3 times what I was paying. WHAT THE HELL? Does this constitute insurance fraud??

  5. Since it was just a scratch, it would have been better to have settled there and then. Most likely the other party made an exorbitant claim otherwise your insurer would not have slapped you with such a hefty premium. A scratch can balloon into something very serious if fraudsters are at work.

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