Claims News Service, June 12, 3:50 p.m. EDT — Althoughrebuilding from last year's hurricanes is a definite issue for GulfCoast residents, fake insurance may be the bigger problem, says theNational Association of Insurance Commissioners.
According to a recent NAIC release, there have been severalarrests of individuals selling phony automobile insurance cards.Also at issue is the prevalence of fake homeowners' coverage.Consumers exposed to these fake insurance schemes face hundreds ofthousands of dollars of unpaid repair costs for home or auto damagecaused by future disasters.
The NAIC is battling against insurance fraud with its Fight FakeInsurance Program. The program aims to protect consumers frominsurance fraud by encouraging them to stop, call, and confirmbefore buying coverage.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
