Phoenix--The insurance crime most costly to insurers is workers' compensation insurance premium fraud, an expert investigator advised at a seminar here on how to detect such activity.
Neil Johnson, manager of the Boston-based Liberty Mutual Premium Fraud Special Investigation Unit, cited recent statistics from Massachusetts showing that while premium fraud makes up 9 percent of insurance fraud cases referred to the state, it resulted in more than 67 percent of the insurance dollars lost last year.
Mr. Johnson, speaking at the International Association of Special Investigation Units meeting here, said in an interview that the vast number of dollars involved has caught the attention of state legislatures who are changing their statutes to deal with the problem.
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