Scientists and insurers alike dubbed 2011 as the “year of the cat,” referencing the record-setting succession of natural disasters and the widespread losses inflicted as a result. Well, a new report from the National Insurance Crime Bureau (NICB) suggests another appropriate nickname: the “year of the cheat.”
That's because the Des Plaines, Ill.-based non-profit organization logged a record number of questionable claims in 2011—100,450 to be exact. This six-digit figure not only represents a 9.4-percent increase from the 91,797 reported the year prior (in 2010) but also the highest number ever in NICB's 100-year history. It also indicates a 19-percent increase in suspicious claims activity during a 2-year time period, from 2009 (in which NICB members referred 84,407 files) to 2011.
For classification purposes, questionable claims (QCs) are those claims that NICB member insurance companies submit to NICB for closer review and investigation based on one or more indicators of possible fraud. (Approximately 1,100 P&C insurance companies and self-insured organizations comprise the NICB membership base.)
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