ICAC Past Cases

Insurance intermediaries may encounter different legal and ethical issues at work. The following are some common ethical risks in the industry and past cases handled by the ICAC.

Diverting /obtaining businesses
by corrupt means

Accepting illegal commission for diverting business

Commission fraud

Senior agent diverting policies to down-line agent to deceive commissions

Brokers diverting clients' policies to defraud higher commissions

Fraudulent insurance claims

Policy holder submitting false documents for medical claims

Agents accepting bribes for processing fraudulent claims

Use of falsifying documents
to deceive principals

Procurement staff using falsified invoices to deceive payments

Agent submitting insurance applications with false information to deceive premiums