How To Spot Fraud
Investigators and claims professionals should closely review auto insurance claims from consumers who:
Report a vehicle being stolen and then recovered with stock tires and no hubcaps.
Have any previous claim history of similar loss.
Claim a vehicle loss that shows signs of import or drag racing.
Report stolen or vandalized expensive aftermarket parts, such as stereos, tires or rims, especially when parked at the insured's home.
Performance shop fraud indicators include:
Claims phoned into police departments with no on-site investigation.
Shops that appear to charge customers and insurers different prices for parts.
Bills or receipts from a performance shop located far from the insured's residence.
A shop filing a large volume of vandalism claims or providing receipts for such crimes.
Reproduced from National Underwriter Property & Casualty/Risk & Benefits Management Edition, September 10, 2001. Copyright 2001 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.
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