On the 12-th of February 2016, the National Commission of financial services regulation held a round table discussion on “Measures against insurance fraud: legal regulation and technological solutions.”
During the round table participants discussed amendments to legislation, recent problems of insurance branch, overcoming the phenomenon of insurance fraud. The invited representatives of insurance companies, were given the purpose to join the newly created database “Search”. This database enable quickly exchange information on registered insurers and insurance claims.
Also, attention was focused on improving of insurance payments, which will inevitably lead to a rise in insurance fraud in Ukraine, which is quite high and so in comparison with EU countries. Participants paid attention to regulatory looseness of cooperation with law enforcement bodies, lack of access to information that is in their jurisdiction. In addition, the comment was on the need to amend the current Criminal legislation and other regulations to the legal definition of “insurance fraud”, and its legal description as an individual type of crime.
Profekto’s lawyer Yaroslav Peresunchak, represented the company, suggested on sufficient quality legal definition of fraud in the current Criminal Code, to identify and punish persons responsible for these actions. The relevant rules of the Code is implemented at the bank counter fraud, fraudulent operations with real estate and others.