Enter your email address:

Delivered by FeedBurner

The $6.5 Million Insurance Scam


The big news recently is the $6.5 million scam by an insurance agent from AIA. The agent took the money from the customer, and used it to pay for insurance policies for the client's family members, without their knowledge.

At first, I would was inclined to believe that it was a scam. After reading the story, I think the story isn't so clear cut. If the agent used all the money paid by the customers and bought insurance policies for the family, and they received the notifications for these policies via mail, then it is very dubious for the client to claim fraud. Why wait so long to report it?

The agent is not without fault for trying to defraud her own employer, even if her story is true.

I think that the lesson here is to trust only what you receive in official correspondence and to call the company to check the records.

I haven't been updating the blog as often as I would have liked. I just changed jobs and the past two months have been quite challenging to meet the deadlines of a tender and also do a presentation which just ended last week.

The weekend was spent trying to catch my breath. And to catch up on old news. If there is such a word.

On the investment front, the shares are doing well without any intervention on my part. OCBC has another dividend which I opted to receive in cash. SGX is doing well with their plans for expansion reflecting in their share prices going up to reflect the possibility of higher earnings from new income streams.

The laggard in my portfolio of stocks, Valuetronics (which is the only stock I have a paper loss on), has recovered quite a bit and looks to be a good place for me to look at more investments once again.

I think it is good to start accumulating money and spot for more investment opportunities that comes along.

Have a good week ahead.

Related Posts

Bookmark and Share


Post a Comment


The information contained in this blog is prepared from data believed to be correct and reliable at the time of publication of this report. The authors do not make any guarantee or representation as to the adequacy, accuracy, completeness, reliability of the information contained herein. Neither the authors or any affiliates or related persons shall be liable for any consequences (direct or indirect losses, loss of profits and damages) of any
reliance placed on information provided in the blog.

Shares and financial instruments illustrated in this blog can go down sharply or in certain instruments suffer total loss on the initial investments. Investors are advised to make their own judgment on the information provided and consult their own financial advisors or consultants as to the suitability of the products illustrated to their particular financial needs and objectives before acting on any information contained herein in this blog.