Instant Insights / Insurance Fraud: Detection and prevention

Insurance fraud comes in many forms and can affect every area of the industry. These articles can help insurance professionals implement mitigation strategies and stop crime in its tracks.


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No employer sets out to hire a dishonest worker, but the fact is it’s often the most tenured and trusted employees who commit these crimes. No employer sets out to hire a dishonest worker, but the fact is that often the most tenured and trusted employees commit these crimes. (Photo: Shutterstock)

Imagine finding out that your bookkeeper was forging your signature and issuing herself illicit checks. Or that she was using the company credit card to pay personal bills or buy personal items.

Although unnerving, scenarios like these happen every year to honest business owners. It’s no small potatoes loss, either. Insider fraud costs businesses tens of thousands of dollars because, by the time it’s detected, the theft has occurred over many months, often resulting in a six-figure financial loss that can decimate a company’s solvency.

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