London-listed insurer Prudential Life rejected nearly one out of five life insurance claims in the first three months of the year, topping a list of underwriters who declined to pay mostly citing fraud and late filings.
Prudential Life's claim rejection ratio--claims made by clients, but rejected--stood at 17.3 per cent in the quarter ending March 2017, followed by Old Mutual (3.8 per cent) and CIC Life (1.2 per cent), according to data from the Insurance Regulatory Authority (IRA).
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