Insurance fraud occurs in about 10% of insurance claims and costs the United States around $308.6 billion each year, according to the latest data from the Coalition Against Insurance Fraud. Tactics of these fraudsters are varied, and insurance scams can involve anything from contractors, to auto repair, to workers' compensation fraud, and it's imperative insureds and insurers alike know what to look out for in order to avoid falling victim to a scheme.
Tracy Thompson, deputy executive director of the Coalition Against Insurance Fraud, offered her expertise in a keynote address at the recent Complex Claims and Litigation Forum in Las Vegas. In this episode of Insurance Speak – recorded live at the forum – she recaps some of the high points of her address and offers advice for insurers and communities for keeping fraud at bay.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
