Slovenia Insurance Supervision Agency joins International Fraud Awareness Week activities to raise awareness of insurance fraud

The Slovenia Insurance Supervision Agency published an awareness piece, including an interview with an industry fraud specialist, to support Slovenia’s participation in International Fraud Awareness Week and to highlight that insurance fraud causes tens of millions of euros of losses each year. The update stresses that even “small” insurance fraud can trigger serious consequences for perpetrators, including civil liability and criminal responsibility. The activities, held under the Association of Certified Fraud Examiners (ACFE), focus on explaining types of financial fraud, exchanging good practices, and strengthening resilience against fraud, with this year’s theme emphasising trust in the financial system, including insurance. In the accompanying interview, Klemen Radetič (Slovenian Insurance Association; Zavarovalnica Triglav) describes common patterns such as staged or misrepresented claims and inflated damage, particularly in motor and property insurance, and cites an estimate that insurance fraud is around 10% of paid claims; detection tools include forensic work, advanced IT systems, artificial intelligence, and information sharing between insurers, including the Slovenian Insurance Association’s Frodo system introduced in 2020. The piece also warns consumers about impersonation fraud involving insurance intermediaries and notes that only intermediaries licensed by the agency may conduct insurance distribution, encouraging checks against the agency’s published register. The International Fraud Awareness Week activities in Slovenia run from 16 to 22 November 2025, with the agency and the Slovenian Insurance Association participating in awareness efforts during that period.