https://www.um.edu.mt/library/oar/handle/123456789/6428 2026-04-11T05:09:51Z https://www.um.edu.mt/library/oar/handle/123456789/7253 Title: Insurance fraud in Malta : detecting, preventing and suppressing fraudulent policyholders Abstract: Every year fraudulent claims make up a good proportion of the total claims received by Insurance companies. This occurs as a result of policyholders knowingly submitting dishonest claims. Their intention is to take advantage of the insurance cover with the aim of wrongfully and fraudulently obtaining benefits, cash and other payments. This constant threat has led insurers to introduce procedures and practices with the objective to minimize this serious crime. Malta is also experiencing the problem of fraudulent claims and it has been quite a challenging situation. Insurance companies have been forking out thousands of Euros each year due to fraud, and for this reason continuous improvements and developments in operations and practices have been taking place. The aim is to safeguard the Maltese insurance market against the continuous threat of fraud. The main scope of this dissertation therefore, is to provide the reader with a general understanding of the issue of fraud whilst examining what goes on in the Maltese insurance market. This study will also focus on the daily challenges stakeholders face and the way such fraudulent claims are detected and handled. The author has tried to: - Identify the most common types of fraudulent claims found in the market. - Combine together the views and opinions of the different stakeholders on the frequency and severity of insurance fraud. - Understand better the processes and procedures involved when examining and investigating fraudulent policyholders. - Study the work undertaken by stakeholders to combat and detect fraud. - Identify preventive measures and technologies which aid insurers and other stakeholders to combat this crime. Since fraud is a hazard which continuously evolves in creativity and develops throughout the years and an issue which has been researched very little in Malta, the use of both primary and secondary data were crucial for this study. The author thought appropriate to conduct a number of interviews for this thesis, such parties consisting of professionals working within or assisting the insurance industry to combat fraud. This helped the writer attain an in-depth understanding of the problem. The use of books, case laws and press cuttings were also crucial for this study; however the use of local statistics was not possible due to the lack of monitoring and assessment carried out in the Maltese market. The problem of fraud in Malta has always been a reality, but to the author's surprise only limited actions were being taken to detect and suppress it. However the industry has been experiencing a positive change in the last ten to fifteen years where cooperation, investment and technology have been recognized as being the answer to surmount the problem of fraud. There are still many challenges and obstacles ahead which need to be overcome, however the Maltese market is certainly heading in the right direction and adopting standards similar to those used in developed countries. Description: B.COM.(HONS)INSURANCE&FIN. 2012-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/7231 Title: An in-depth study outlining the problem of uninsured driving on Maltese roads Abstract: The dissertation aims to examine the current situation of uninsured driving on Maltese roads. It seeks to establish whether the problem does exist, whether this is on the increase and to what extent it is of concern. The intention was to investigate the financial cost and burden on the victim, the driver and on the insurance industry itself. To strengthen the study, the key stakeholders, mainly the insurance providers, law enforcers, government authorities, Motor Insurer's Bureau and the general public were consulted. Their perspectives and views were analysed so as to draw conclusions and recommendations. Using available data, purposely designed questionnaires administered to a sample of to the general public, and interviews conducted with the main stakeholders, various findings were gathered. One concern which emerged is the fact that, although a general awareness of the problem of uninsured driving prevails, people are unaware of its serious consequences. One of the main recommendations of this study is the suggestion to carry out intensive educational campaigns in this respect, as this will be beneficial to society at large. The main limitations to the study were that data is not as yet being collected about claims settled by the insurance companies and by the Motor Insurer's Bureau where uninsured driving cases are concerned, as well as the number of those found guilty of driving uninsured. Thus, the financial cost of uninsured driving and the burden on the victim could not be established. In essence, from this dissertation it was found that if there is more liaison between the main stakeholders, and if more research is conducted, the profile of the typical uninsured driver could be better established. Description: B.COM.(HONS)INSURANCE&FIN. 2012-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/7228 Title: The effects of uninsured driving on motor insurance business Abstract: Driving a motor vehicle without insurance cover is an offence that has an effect on motor insurance business. Despite the fact that Malta is, like other countries, affected by the issue of uninsured driving accidents, data on the subject is very limited. As a result, the effects of uninsured driving on insurance business and society are not fully known or understood. Likewise, the views of those concerned with the problem are not totally clear. This research study goes a long way to identify the effects of uninsured driving on the motor insurance industry. Local and European legislation concerning uninsured driving, together with primary data collection, provide an enhanced understanding of uninsured driving from a local viewpoint. The incidence of uninsured driving in Malta appears to be increasing; the burden of the costs is being incurred by honest policyholders and insurance companies. The findings suggest that the public is not sufficiently aware of the consequences of driving without insurance and the local insurance industry does not have adequate measures to calculate the incidence rate of uninsured driving. In spite of the fact that it appears that the victims of uninsured driving are being well-served by the current compensation system, improvements can be implemented, especially with regards to how the system is funded. Description: B.COM.(HONS)INSURANCE&FIN. 2012-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/7098 Title: Travel insurance : lessons emergent from recent volcanic ash clouds Abstract: This, principally quantitative, dissertation appertains to the eruption of the Eyjafjallajӧkull volcano in Iceland in 2010 and the volcanic ash cloud that followed. The grounding of flights brought about chaos in European air traffic and millions of passengers were stranded around the globe. The purpose of this study was to determine the impact and the losses that this incident left on the airline industry and, particularly, on the insurance companies and the travellers holding a travel insurance policy. Such a topic is concerned with recent events and, thus, minimal data could be found in this regard, especially within the local context. Therefore, this study was taken up to also shed more light on the impact and the response of local insurance companies to the volcanic ash cloud incident. Through the sourcing of already-existing data and the primary data gathered by means of the distribution of questionnaires, it was established that the insurance companies were not prepared for such an incident and, furthermore, there were mixed opinions and arguments as to how this situation had to be dealt with. Following this event, the insurance companies did respond, however, by offering cover for any futuristic unanticipated volcanic ash disruptions. Despite that such a chaotic incident was unheard of before and also could never have been anticipated, the press still managed to foment widespread criticism of the insurance industry. Therefore, the main aim of this dissertation was to investigate, if any, the lessons that could be learnt by the travel insurers from such an unanticipated but highly chaotic episode. Description: B.COM.(HONS)INSURANCE&FIN. 2012-01-01T00:00:00Z