While films like "Catch Me If You Can" and "The Sting" may glamorize conmen, the truth is, when you're on the receiving end of a scam, it's no thrill.

While the average insurance scammer may be playing for much smaller stakes than grifters in the movies, they can collectively cost a company, and other policyholders, a lot of money.

Insurance fraud is on the rise. A recent study from the Coalition of Insurance Fraud (CIF) found that more than 60% of insurers say fraud rose from 2013 to 2016.

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
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.

Agency Management
Auto
Commercial Lines
Loss Control
Personal Lines