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LAS VEGAS–The chief claims executive for a major insurance company said the insurance industry needs to take a moral stand against adjusters who permit the payment of fraudulent claims.

George Fay, executive vice president, worldwide property and casualty claim for Chicago-based CNA Financial, said: “It is absolutely, morally wrong to pay a fraudulent claim. My company will not commit moral wrongs, nor will I permit anyone who works for me to commit a moral wrong. Is there anything that anyone does not understand about committing a moral wrong?”

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