Eighteen delegates of the former Soviet Union representing the insurance industry expressed concerns about obtaining buyers' trust, managing risk to lower costs and combating fraud at a recent risk management seminar.

The session–offered by the Risk and Insurance Management Society Inc.–was part of a three-week curriculum in the Special American Business Internship Training program. The program was designed to train mid- to senior-level executives of Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan, according to RIMS.

The delegates, including representatives of legislative bodies and private insurance company executives, told National Underwriter their insurance and risk management programs are in many ways similar to those in the U.S. A big difference, however, is a lack of infrastructure, making them vulnerable to fraud.

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