Auto give-ups, stolen vehicles,arson, padded injuries, inflated medical bills and disabilityexaggerations are just a few of the scams that play out in theinsurance arena daily.
According to the Insurance Research Council, 1 in 3 Americansbelieves it is acceptable to inflate a claim to pad a deductible.One in 4 believes it is acceptable to do this in order to recouppreviously paid premiums.
The reality is that every day insurers are faced with situationsthat are outright fraud or contain elements of fraud. In fact, itis estimated that 21-36 percent of insurance claims contain anelement of fraud. The continuing poor economic conditionscomplicate matters, creating a financial motive for many who wouldnever consider such drastic action in “good times.”
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.
