Mena News - International: Insurance Federation to Chair IAIFA Annual Meeting
Source: Middle East Insurance Review | Mar 2007
The International Association of Insurance Fraud Agencies (IAIFA) plans to establish a database to help member countries exchange key information and methods to curb fraud operations, which amount to US$150 billion a year around the world, according to Dr Bassel Hindawi, President of the Association and Director General of the Insurance Commission of Jordan.
Jordan will chair the 2007 IAIFA annual meeting in September in Lisbon to discuss the latest international efforts in fighting fraud operation in the insurance industry.
Dr Hindawi says that participants in the meeting would discuss the most up-to-date methods and procedures in combating insurance fraud. He points out that well-coordinated international efforts are needed to fight insurance fraud, which is the second biggest phenomenon after crimes of violence.
The association, established in 1987 with 120 members from Arab and foreign countries, aims to fight fraud in the field of insurance through effective cooperation and coordination between member states.