Insurance companies deal with record fraud level

The number and volume of acts of insurance fraud is estimated to have reached record levels this year. A survey conducted by the Czech Press Agency among the major insurance companies in the Czech Republic suggests that insurance investigators in the three largest companies have uncovered hoaxes worth roughly 450 million crowns in the first three quarters of 2011 alone. That result is only slightly short of the volume of fraudulent claims for the year 2010 altogether. As in recent years, most of the cases involve automobiles, property insurance and liabilities.