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Expert: Beware Of Construction Insurance Scams

The president of a fraud detection and risk management firm, who previously gained prominence investigating public construction fraud, said insurers and their clients are losing vast sums on private b

By Daniel Hays | Updated on January 18, 2006

The president of a fraud detection and risk management firm, who previously gained prominence investigating public construction fraud, said insurers and their clients are losing vast sums on private building project scams.

The losses, said Thomas D. Thacher, president and chief executive officer of New York-based Thacher Associates, could be avoided if insurers and risk managers were more proactive in vetting contractors.

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