Definition of Fraud

Fraud defines that a person has resorted to fraud and deception in order to gain advantage or benefit for himself or herself or to avoid an obligation or to cause loss to another party. The term "fraud" is used to describe offenses that include but are not limited to fraud, bribery or fraud Extortion, misappropriation, distortion of facts, concealment of fundamental facts, complicity or conspiracy. Fraud in insurance is defined as an act aimed at the unlawful or lawful benefit of the fraudster or others. Fraud is defined as an act of deception and falsification intended to gain special benefit or advantage for the party committing the fraud or for other parties, to avoid an obligation, or cause loss to another party. The term "fraud" is normally used to describe violations including, but not limited to, deception, bribery, forgery, extortion, embezzlement, misrepresentation, misdescription, non-disclosure of material facts, or conspiring. Insurance fraud is defined as an act intended to gain dishonest or unlawful advantage for the party committing the fraud or for other parties.

Fraud may take any of the following forms: -Misappropriation of funds and assets of the company.
-Deliberately damaging or not disclosing one or more material facts relevant to a financial decision, transaction, or exploitation of the company status.
-Abusing authority, position of trustor, or fiduciary relationship.

Importance of Reporting Fraud or Misuse of Insurance to Solidarity Takaful:
Service providers, insurance personnel, and policyholders can report fraud or misuse of insurance to help in protecting the rights of the policyholders.

How to Report Fraud and Misuse of Insurance to Solidarity Takaful:
Call the unified No.:
920003533
or e-mail us via the form below.

Note: We confirm that all information and personal data will be treated in strict confidence by Solidarity Takaful.

Insurance Fraud

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