"Recovering from damages caused by wildfires is a daunting task for businesses and homeowners. As important as it is to prepare for these events before they occur, it is also vital to be prepared for what comes after," NICB President and CEO David Glawe said in a release. Credit: Rick Bowmer/AP
As the residents of Maui continue to grapple with the toll from the island's recent wildfire, which was one of the worst in U.S. history, the National Insurance Crime Bureau (NICB) is warning policyholders to be on the watch for unscrupulous contractors looking to hit vulnerable targets in the wake of the disaster.
The NICB reported that of the more than $99 billion in insured catastrophic losses in 2022, around 5%-10% (or about $10 billion) was lost to contractor fraud.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
