Czech Rep., CAP: The number of detected frauds totaled ~EUR 50 m in 2021

7 February 2022 —
The number of insurance frauds increased during 2021, according to the figures published by the Czech Insurance Association (CAP). The professional association of Czech insurers informed that during last year, it inspected a total of 11,407 suspected claim files, up by 18% y-o-y, the aggregate value of detected fraud totaling CZK 1.25 billion - or ~EUR 50 million (up by CZK 17 million or by 1% y-o-y). The average amount of detected fraud / claim file reached CZK 249 thousand (vs CZK 288 thousand in 2020).

In property-liability insurance, the number of investigated claim files increased from about 3,000 in 2020 to almost 3,600 in 2021. A similar increase occurred in motor insurance where Czech insurer inspected about 5700 last year vs. 4700 a year before.

"The largest volume of proven insurance fraud was in property and liability sector, where insurers saved about CZK 840 million in 2021 vs CZK 740 million in 2020. Furthermore, 22% of total volume was accounted by motor insurance (CZK 279 million in 2021 vs CZK 360 million in 2020). The remaining 11% of total amount of detected insurance fraud occurred in personal insurance: CZK 130 million, a value comparable to 2020", said Petr JEDLICKA, CAP Analyst.