Friday, September 16, 2016

Interesting Facts about Insurance Fraud



A shocking truth that many people don’t realize is that insurance fraud has become a ‘norm’ in our society. You read news stories about insurance fraud and watch them on TV regularly. The number of people making fraudulent claims is increasing every year. As a result, insurance companies raise their premiums and every policyholder has to pay the price of damage a few black sheep inflict.
It is not possible for every person to hire an insurance fraud specialist every time they suspect someone is committing insurance fraud, but you can learn more about insurance fraud, so you can protect yourself. You can contact NSIU, one of the top private investigation firms in the country, when the occasion calls for it.

Facts about Insurance Fraud

·       -  It is estimated that in the U.S. about $80 billion worth of fraudulent claims are filed every year.
·         $50 billion of these can be attributed to medical insurance fraud.
·      -   This costs every policy holder about $400 each year, because of increased premiums.
·      -   Most common type of insurance fraud is premium diversion; insurance agents don’t send the premiums to underwriters and keep them for themselves.
·    -     Natural or accidental disasters can often invite fraudulent claims. People try to take advantage of the disaster and make fabricated claims about their property damage and lost possessions.
·      -   Many states, or state fraud bureaus, offer rewards to individuals for reporting ongoing insurance scams.
·  -       Sometimes a service provider will offer free service to you, but later bill your insurance company for the same service. This type of insurance fraud can commonly go unchecked.
·       -  A large number of insurance fraudsters pose as insurance agents and scam people out of their money, while they never actually provide any insurance.
·         Contacting the insurance company regarding the insurance agent who has contacted you will help to mitigate this type of scam.
·    -     A mechanic or body shop worker may exaggerate the damage and charge the insurance company more, making you an unwitting insurance scammer.
-The information above will help you learn more about insurance fraud schemes around you and how it will hurt you as a policy holder. If you suspect that you or your organization is being targeted for insurance fraud, then you should contact NSIU immediately.

Company Introduction

National SIU (Special Investigation Unit) is a professional investigation firm that specializes in surveillance and other services specifically for risk managers and insurance professionals. The organization’s main goal is to provide their clients with effective evidence which can be used to uncover the truth.
For more information, please visit http://www.nsiu.com/Home

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