Search
 

Advertorial: Liars Lie. Claims fraud numbers don't

You hear it all the time attitudes about fraud are changing. And while that may be true for some, a recent Insurance Research Council survey found that 18 percent of respondents believe it is acceptable to pad a claim to make up for premiums paid in the past. And...

By Alex Young | Updated on April 01, 2016

You hear it all the time — attitudes about fraud are changing. And while that may be true for some, a recent Insurance Research Council survey found that 18 percent of respondents believe it is acceptable to pad a claim to make up for premiums paid in the past. And according to the National Insurance Crime Bureau (NICB), 10 percent of property and casualty claims are fraudulent. And it all comes down to this, liars lie. And as long as liars lie, there will be people who commit claims fraud.

No doubt you’ve heard these lies: existing damage was the result of a recent accident even though the damage occurred before the policy was active, a car was stolen even though it was recovered at a boyfriend’s apartment, or the vehicle is driven for private use even though it has a ladder rack and company signage on the side. Or how about a severely injured person who can’t work, out and about at the golf course? This list goes on even as liars get more creative in their fraud attempts.

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.