Insurance companies lose billions to fraud every year. Most insurers have anti-fraud programs in place, but losses continue to rise. Predictive models use old data and trends to predict what is coming and make estimates. However, when the data isn’t consistent this model can be counterproductive. Due to the surge of Covid-19 cases and an …
Proper documentation is critical for preventing fraud against insurance companies. The adjuster should obtain copies of all relevant and material records from the insured.
Insurance agencies devote a lot of time and resources to detecting fraudulent claims. That’s because insurance fraud has always been a problem, and rates are on the rise. Even if fraud investigation isn’t your primary duty as an insurance claims adjuster, you’ll still need to know which red flags to watch out for when interviewing claimants and making your report. As someone who’s been in the insurance industry since 2008, I’ve developed a good sense of who is telling the truth and who is trying to be shady. Now I’m here to help you sharpen your lie-detection skills as well.
It’s a property owner’s nightmare: either due to severe weather or simple time and neglect, their roof needs to be replaced ASAP before it falls down around their head. If this is someone’s first time dealing with insurance claims and roofing contractor bids, the whole process could seem a bit overwhelming. I’ve personally seen many cases where the homeowner wasn’t sure whose price estimate to trust or what to do next when they needed a new roof. Fortunately, I was able to reassure and guide them, and I hope this advice can help others who are in the same boat.
Everything is bigger in Texas. Unfortunately, that sometimes includes insurance fraud schemes. From health care provider fraud to unlicensed insurance policy sales, insurance fraud is alive and well in the Lone Star State. Let’s take a look at insurance fraud in Texas, how to report it if you see it, and what lawmakers are doing …
What You Need to Know About Insurance Fraud in Texas Read More »
