Insurance Europe, the European insurance and reinsurance federation, has prepared a paper that provides an overview of the type, scale, and impact of insurance fraud throughout Europe. The problem is widespread on the continent – and costly. The report estimates that detected and undetected fraud represents up to 10 percent of all claims expenditure in Europe.
The report also describes the insurance industry's actions to reduce fraud. Reducing and deterring insurance fraud is a priority for insurers throughout Europe.
The complete report, “The impact of insurance fraud, Insurance Europe, 2013” is available online at http://www.insuranceeurope.eu/publications/1159/21/The-impact-of-insurance-fraud/.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].