According to the Insurance Information Institute, property andcasualty insurance fraud now cost insurers an estimated $30 billionannually. Of this, workers' compensation fraud accounts forapproximately 25 percent or $7.2 billion a year, according to theNational Insurance Crime Bureau (NICB). The problem is only gettingworse. The NICB recently called workers' compensation fraud the"fastest growing segment of insurance fraud" in the nation. TheInsurance Research Council attributes the current fraud trendincreases to:
? Sustained and growing economic pressures
? Weakening of society values
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.
