Search
 

4 Fraud-Fighting Checklists for Agents

Are your clients or prospects trying to pull a scam? Industry experts share their red flags for fraud.

By Laura Mazzuca Toops | Updated on October 30, 2013

Insurance fraud is bigger than ever, and scammers are coming up with new wrinkles all the time. As the guys on the front lines, insurance agents are in a unique position to spot insurance fraud as it’s happening and play a powerful role in stopping it before it starts.

Conservative guesses put the cost of fraud across all lines at $80 billion a year, said Jim Quiggle of the Coalition Against Insurance Fraud (CAIF). The Aite Group estimates it at about $70 billion for property-casualty fraud alone, with 10 percent of every claims dollar goes to fraud.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.