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Fraud in disaster claims cost insurers as much as $9.2B in 2021
By Steve HalloFraud adds 5%-10% to the total claims paid following a disaster, according to the NICB.
News and information for property & casualty insurance agents & brokers on personal lines insurance, including homeowners insurance, flood insurance, earthquake insurance, renters insurance, automobile insurance, life insurance, disability insurance, umbrella insurance and health insurance. These insurance products protect individuals and families against potentially crushing financial losses caused by fire, theft, natural disasters, death, accidents, lawsuits and illness.
Fraud adds 5%-10% to the total claims paid following a disaster, according to the NICB.