Fighting insurance fraud is big business throughout the nation–particularly in key states such as New Jersey and California–and keeping up with ever-evolving criminal tactics via formal training remains one of the major elements to assure success in this effort, players in the field contend.
The numbers involved are not just petty cash, as fraud cost property-casualty insurers about $29 billion in 2005, according to the Insurance Information Institute.
The industry and law enforcement got serious about preventing and prosecuting fraud in the 1990s with the establishment of fraud units in state police agencies and special investigation units in insurance companies, industry experts note.
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