Golf scammers target free beer

Golf is an expensive hobby – especially if you’re good at it. After a so-called hole-in-one, i.e. mastering a hole in one shot, it is good manners to invite everyone present in the clubhouse for an Aperol Sprizz, a Kir Royal or another drink.

Depending on how many jocks are in the clubhouse at the time, this can be a costly affair. Hitting arts can thus quickly lead to financial difficulties.

Up to 1,500 euros for victory celebrations

If you are afraid of your own skills, you can protect yourself with a so-called hole-in-one insurance just in case – also in Germany. Just last year, for example, Hiscox, together with the underwriter Golfassec, launched a policy that also included club colleagues’ willingness to drink into the insurance cover. Up to 1,500 euros are reimbursed here. Requirement: The hole-in-one must have taken place as part of an official tournament, and the golf club must also confirm this.

In Korea, insurance conditions appear to be less stringent, with scammers appearing to be increasingly using their hole-in-one insurance to cash in. According to a report by the “Korea Times”, the Korean financial supervisory authority FSS (Financial Supervisory Service) recently warned about increased abuse of single-hole protection. In a recent case, 14 policyholders stole a total of 67 million won (equivalent to $51,000) over three years by having caddies attest to their supposed brilliant achievements.

According to the “Korea Times”, the insurance companies have now only paid the costs that can be proven by means of a receipt, instead of a prize money. However, the cases of fraud through forged receipts are also increasing here.

Insurance employee penalized

Insurance workers also seem to be playing the wrong game with the wrong success. For example, the FSS recently fined 25 employees of 13 insurers and brokerage firms who appeared to be involved in golf insurance fraud.

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It remains to be seen whether the supervisory authorities, with their tougher approach, will be able to stop the attempts at fraud. According to press reports, the number of golf insurance policies taken out, including hole-in-one protection, has increased significantly during the pandemic period.

If you are thinking about taking out such a policy in this country, you should have a number in mind. According to the German Golf Association, the chance of an ace for amateurs is 1:10,150 – so it’s better to take your wallet with you the next time you visit the clubhouse, a free beer is unlikely.