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General insurance industry should set standards for external investigators: Report


A report by the Code Governance Committee of Australia concluded that the country's general insurance industry should develop a set of best practice standards for external fraud investigators, Asia Insurance Review reported citing The Sydney Morning Herald. The report said that when insurers outsourced claims-related functions to "service suppliers" such as investigators, compliance with the Code of Practice was "unpredictable" and the degree of oversight they exercised in some cases was "inadequate."

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