Model for Insurance Fraud Risk Assessment and Prevention

Emil Asenov ()
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Emil Asenov: University of National and World Economy, Sofia, Bulgaria

Godishnik na UNSS, 2017, issue 1, 47-59

Abstract: This article critically examines insurance frauds in terms of the risk they create and the significant losses they bring to the insurance industry. A comparative analysis of the classification of insurance frauds in the legal systems of many developed countries has been conducted. A model for risk assessment and the prevention of insurance frauds is presented. In the suggested model the overall risk assessment is achieved by the evaluation of risk elements – probability, exposure (frequency) and results. The possibilities for the practical application of the model of insurance frauds assessment and prevention in the insurance organizations practices have been outlined.

Keywords: insurance frauds; legal classification of insurance frauds; insurance fraud risk assessment; insurance fraud risk prevention (search for similar items in EconPapers)
JEL-codes: G17 G18 G22 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:nwe:godish:y:2017:i:1:p:47-59

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