"At Travelers, we fight fraud across all organizations, underwriting as well as in claims," Pranay Mittal, vice president of investigative services at Travelers, said during a "Wednesday with Woodward" session. "All our employees are trained and are aware of insurance fraud and know how to get these suspicious policies and claims to our SIU." Credit: Billion Photos/Shutterstock
In the summer of 2022, the Coalition Against Insurance Fraud teamed with Colorado State University Global to study fraud in the U.S. and found that each year the country's consumers and businesses lose more than $308 billion as a result of insurance schemes. Previous estimates had pegged the annual cost of insurance fraud at $45 billion.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
