Fraudulent weather-related claims to increase. The National Insurance Crime Bureau finds that approximately 10% of insurance claims are fraudulent. (Photo: Shutterstock)

Insurance fraud is not the first factor we consider when a weather-related event occurs. We worry about the lives lost, damaged homes, ruined businesses, uprooted families and destroyed towns. It is only after weather-related events pass that insurance fraud becomes an unwelcome intruder.

According to the National Insurance Crime Bureau, a North American non-profit membership organization created by the insurance industry to address insurance-related crime, approximately 10% of insurance claims are fraudulent. This leads us to predict as weather-related events increase both in frequency and size, fraudulent insurance claims will also rise.

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

Copyright © 2023 ALM Global, LLC. All Rights Reserved.