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Commercial Insurance Fraud in Algeria

Algerian dinar

Most often we hear about the insurance frauds concerning personal auto insurance policies, but sometimes the things are not good with the commercial vehicles as well. Seems like, the idea of tricking a provider does not only cross certain criminals’ minds, but the business administration decides to act like this as well.

According to the report presented by a newspaper in Algeria, El-Khabar, insurance companies in the country faced 190 cases of insurance falsifications on commercial policies just in the first half of 2008.

Since the businesses have to pay auto insurance of the vehicles they use, they don’t want just to waste the money and they make plans to have it back. So, they report to the providers about the car accidents in order to have some of the investment back.

In total these false claims cost about 45 million Algerian dinars, which is about $744,000.

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