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How you can combat insurance agent fraud

In many states, insurers are required to have a fraud investigation unit. Even if your state doesn't have a law or regulation, you have a responsibility to protect your customers.

By Beth Ossino | Updated on July 11, 2017
When you hear the term "insurance fraud" you probably think of clients doing wrong, but agents can be guilty of fraud as well.

According to the Coalition Against Insurance Fraud (CAIF), insurance fraud steals an estimated $80 billion a year across all lines of insurance. In addition, fraud accounts for 5% to 10% of claims costs for U.S. and Canadian insurers.

Along with my job as Claims Manager at Golden Bear Insurance Company, I am our Special Investigation Unit Assistant Coordinator. It’s my responsibility to ensure my colleagues and I are well equipped to identify and report suspected insurance fraud to protect our insured customers.

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