X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Auto give-ups, stolen vehicles, arson, padded injuries, inflated medical bills and disability exaggerations are just a few of the scams that play out in the insurance arena daily.

According to the Insurance Research Council, 1 in 3 Americans believes it is acceptable to inflate a claim to pad a deductible. One in 4 believes it is acceptable to do this in order to recoup previously paid premiums.

The reality is that every day insurers are faced with situations that are outright fraud or contain elements of fraud. In fact, it is estimated that 21-36 percent of insurance claims contain an element of fraud. The continuing poor economic conditions complicate matters, creating a financial motive for many who would never consider such drastic action in “good times.”

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

 

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.