Moral risk: the underwriter's fraud antennae!

Abstract

This paper was presented as part of Business Session 2, on the topic of 'Marine Insurance fraud: what is it good for?... absolutely nothing!', which was chaired by Geoff Brodie.

In this paper, Black discusses and explains the nature of fraud and maritime fraud, the impact of fraud on insurance (and particularly marine insurance), fraud in marine underwriting, underwriting to avoid marine insurance fraud, fraud in marine insurance claims, conduct of claims where fraud is suspected, and the insurer's response to insurance fraud.