Definitions by Tetiana Kurtova

Tetiana Kurtova
Group 1

Extended definition
on the topic: “Fraud in insurance and ways of its elimination”.
In legal practice term “fraud” means: deception; intentional introduction in an error or concealment of fact which has a substantial value, with the purpose to lead other person to conclude or to hold back from the conclusion of treaty. Simultaneously, fraud in insurance foresees infliction of loss of insurer or insure during a conclusion, implementation and stopping of agreement.
Fraud is the variety of economic criminality, the result of which is laying hands on other person’s property or other financial values by the way of deception, breach of people’s trust or their insufficient knowledge with a current legislation which protects rights for users.
Fraud in the financial field is the most mobile type of shadow activity, that quickly change the spheres of action and priorities of development. The rates of distribution of fraud to this day pass ahead the rates of forming of legislative base which must resist his development. Exactly such situation is a characteristic for fraud in insurance business.

Sentence definition
on the topic: “Fraud in insurance and ways of its elimination”.
In legal practice term “fraud” means: deception; intentional introduction in an error or concealment of fact which has a substantial value, with the purpose to lead other person to conclude or to hold back from the conclusion of treaty.