The FICO Insurance Fraud Survey makes for disturbing reading for those looking to combat insurance fraud.
While estimates of losses because of fraud ranged from 10% to 20%, the majority of respondents predicted a rise in fraud across most categories of personal lines insurance.
Hidden within these figures, but almost impossible to accurately evaluate, is the thorny problem of soft fraud. Lost among the headlines is the plain fact that soft fraud is often committed by normally honest policyholders. Good policyholders can inflate values advertently or inadvertently. A sense of entitlement may prevail, leading to opportunistic fraud.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 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.
