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Model for Insurance Fraud Risk Assessment and Prevention

Author

Listed:
  • Emil Asenov

    (University of National and World Economy, Sofia, Bulgaria)

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.

Suggested Citation

  • Emil Asenov, 2017. "Model for Insurance Fraud Risk Assessment and Prevention," Godishnik na UNSS, University of National and World Economy, Sofia, Bulgaria, issue 1, pages 47-59, December.
    • Handle: RePEc:nwe:godish:y:2017:i:1:p:47-59
    as

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    File URL: http://unwe-yearbook.org/en/journalissues/article/9929
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    More about this item

    Keywords

    insurance frauds; legal classification of insurance frauds; insurance fraud risk assessment; insurance fraud risk prevention;
    All these keywords.

    JEL classification:

    • G22 - Financial Economics - - Financial Institutions and Services - - - Insurance; Insurance Companies; Actuarial Studies
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • G17 - Financial Economics - - General Financial Markets - - - Financial Forecasting and Simulation

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