Andrew Tan recently blogged about some insurance shenanigans in Singapore. This is part of what he said:
This incident came about after a semi-retired Indonesian businessman, Mr Ong claims that his agent had sold him a non-existent insurance policy that cost US$5 million.
The agent has her side of the story:
The agent Ms Sally Low who was sacked by AIA in September 2009 claims that she was merely an accomplice and the fake insurance plan (AIA Thank You Policy)was part of a ploy conceived by Mr Ong to defraud AIA such that AIA would be responsible for Ms Low’s wrongdoings and compensate Mr Ong’s losses.
Be sure to read the rest of Andrew Tan's post, and make sure that you scroll down to the bottom of the post. AIA stands for American International Assurance, whose slogan (according to a picture at Tan's blog post) is "Trust Us For Life."
P.S. Speaking of scams, I discovered Andrew Tan's blog Boleh! Boleh! after his post on sake was appropriate, without attribution, by myxnote (see here). And myxnote is still ripping off my stuff; here's the myxnote version of my Smith Corona post, complete with my "empo-tymshft" label. (The original post is here, if you missed it.)
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