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Fraud Prevention

The prevention of fraud is a central task for insurers and all those who collaborate with them. Preventing this type of illegal acts is a commitment to the Society.

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Afianzadora Latinoamericana S.A se propone alertar a sus Tomadores, Asegurados, Beneficiarios y/o Damnificados sobre la existencia del fraude en el mercado asegurador.

Afianzadora Latinoamericana S.A proposes to alert its Policyholders, Insured, Beneficiaries and / or Victims of the existence of fraud in the insurance market.

Fraud in insurance is any action or omission tending to illegitimately obtain a benefit on the part of the insured, third parties, insurance agents, lawyers, suppliers and employees, as well as other professionals who intervene on the occasion of the hiring, issuance and / or accounting of insurance, or in the production, communication, intervention and / or liquidation of an accident.

Good practices, fair treatment and good faith must be rooted in all our actions as insurers, policyholders, policyholders and other participants in the insurance market.

Insurance fraud has direct consequences on the entire Company and not only harms the insurer itself, since it affects the whole system and therefore it is important to raise awareness of all the participants of the system.

The anti-fraud policy and its influence on competitiveness

Beyond the specific cases where a fraudulent attempt to obtain benefit is perceived by a particular person or a gang conformed with criminal purposes, there is an aspect that clearly exposes that the fraudulent actions that are not detected are paid, for example in claims, and have a direct impact on the costs of insurers. An insurance company, like any other activity, must be profitable and efficient; that is to say, it can not support losses without taking corrective measures and one of them is the fee charged for the service it provides, or the insurance premium will be more expensive.

An effective and proactive management in the policy of fraud prevention ends up becoming a powerful tool to improve the competitiveness of the insurer and an act of responsibility for the benefit of all parties.

The professional and efficient action of advisory producers, brokers or agents institors in the collaboration for this fight helps all market participants.

At the moment of discovering frauds, the crossing of data and the collaboration between insurers is paramount. Social networks are also of vital importance, since they have a phenomenal insertion in the lives of a large number of people. They allow the bond and the interaction without needing to mediate the physical presence.

To avoid that they voluntarily or involuntarily contribute to perpetrate a fraudulent maneuver, it is recommended:

1) Claim forms or claims reports should never be signed blank.

2) They should never accept money, or sign documents or agree to powers of attorney whose scope and effects they do not understand, nor recognize facts that have not happened, nor accept the legal assistance provided by unknown third parties.

3) They must not modify the state of things damaged by the accident, nor should they fraudulently exaggerate the damages; use false evidence; or provide false complementary information.

4) The fraud that is directed against the insurer causes damage to the entire community, affects the costs of the premiums, and occurs when people deceive the company (and / or the insurance advisory producer) to collect money or obtain some another advantage to which he has no right.

5) Fraud that affects the insurer is a crime. The variation, simulation or misrepresentation of personal, temporary, objective, causality, place, and deliberate provocation, or the total or partial simulation of the incident, are some of the most common forms of fraud, leading to admit it as natural, without understanding the seriousness that it entails.

6) False statements or any reluctance of circumstances known to the insured, even made in good faith, which if taken into account would have prevented the contract or modified its conditions, void the contract, resulting in greater seriousness the consequences of attitudes malicious or in bad faith.

7) Remember that you can be voluntarily or involuntarily involved in a fraud maneuver. There is always the risk that some people with very bad intentions will induce them to perform practices that are outlawed.

8) They must never agree to cooperate in carrying out a fraud maneuver.

9) They should never provide data or access to their policies to third parties when this is not justified, nor allow them to substitute or simulate the real personal, temporary, objective or causal circumstances related to the occurrence of a loss.

10) You should always consult with your insurer in case of any doubt or event and communicate any news that may arise.

11) Keep in mind that your coverages may have limitations, in order of items, risks or concepts not covered, see the list of coverages on this website.

12) They must be warned about the offer of coverage, generally of cost below the market average, by unauthorized marketers. You can consult more information on the website of the National Superintendence of Insurance

13) Although it is permitted to ensure the same interest and the same risk with more than one insurer, in such case such end must be notified to all entities. It is not lawful for the compensation to exceed the amount of damage suffered, nor to pursue the collection in respect of an accident that has already been repaired by another insurer.

14) Pay the insurance only through the marketing channels indicated by the Insurer or its insurance advisory producer.

Afianzadora Latinoamericana S.A participates actively in the fight against insurance fraud, and has a specific department of analysis and prevention. The issue concerns us not only from the economic point of view, but also from a cultural, ethical and moral point of view.

Keep in mind that fraud is a crime, and like all crimes must be punished the people who commit it. We believe that our policyholders play an essential role in the prevention and detection of this threat.

Fraud in insurance harms us all, we know its implications, sow awareness and fight together to prevent and eradicate it.

If you have any questions or concerns, please contact Dr. Veronica Inglés Martin at (011) 4331-2320 or at the following email: