Ins Fraud: A Perpetual Bane

  Monday, April 1st, 2002 Source: Insurance Journal

Since the insurance industry's inception, fraud has proved a perpetual problem, an inherent risk that will likely never be totally eliminated. Carriers have long warned that fraud ultimately causes them to raise premiums to offset resultant losses, but during periods in which markets harden and consumers are faced with fewer options and higher rates, these warnings have a stronger resonance. That's not to say that incidents of insurance fraud necessarily decrease when markets harden. According to the National Insurance Crime Bureau (NICB), a nonprofit organization supported by 1,000 property and casualty carriers, insurance fraud is perennially the second-most common white collar crime behind tax evasion, and costs the U.S. public roughly $30 billion in property and casualty claims alone annually.

  Read Full Article
SOS Ladder AssistMid-America Catastrophe ServicesU.S. ForensicAll Claims Adjustment Bureau

  Recent Provider Listings

Serving Orange & Surrounding Counties
Florida Contents Inventory And Valuation Services
Serving California & Nevada Statewide
California Adjusters
Serving Florida Statewide
Florida Engineers Forensic Consultants