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International

Marine insurance fraud common in Asean region: Official

June 22, 2015 Reprints

A marine underwriter has said that "marine insurance fraud is common" in the Association of Southeast Asian Nations region.

Marine insurance industry experts have said that piracy is the leading cause for insurance claims in the Asean region, reported The Malay Mail Online.

Although most piracy claims have been genuine, there has been an increase in the number of "insider jobs."

The underwriter said that insiders "may be members of the crew or even shipping companies themselves."

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Marine insurance fraud common in Asean region: Official

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