How Can Agents Stop Fraud?
Agents can protect their companies against potential fraud by being alert to a number of items that should raise a red flag, according to James Quiggle, director of communications for the Coalition Against Insurance Fraud in Washington.
Alarms should sound when an applicant walks into an agency looking for coverage on high-value articles and does not ask about the cost of the premium.
Look for lifestyle indicators. For example, a client looking to insure an expensive house, but driving a very old car or an applicant looking to insure expensive goods who has a job with a low pay scale.
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