With a slowing down of the economy and unemployment rates high, insurance fraud and worker’s compensation fraud has become a more frequent issue. Insurance companies are seeing a rise in claims regarding vehicle accidents and workers compensation claims. It’s important for SIU and claims departments to have surveillance done on these individuals early on in the claim process to evaluate the extent of the claim that has been reported. We have assisted insurance companies in such investigative services. If you are a defense attorney that does insurance litigation or an insurance company looking for an experienced professional to help assist you with your claim or case give us a call, we can help.
Home Insurance Flood Fraud: How to Spot the Scam
by BROOKE GOLD HASSON | Oct 07, 2015
Home insurance fraud has become a continuing problem throughout the United States, more so recently since hurricane Katrina. Because of this fraud and scams it appears the estimates, property/casualty insurance fraud amounts to more than $30 billion a year nationwide – a huge amount that gets thrown on to homeowners. Insurance Fraud come in all different of types of people: habitual criminals who steal excessive amounts of money through business scams and insurance claims … service repair companies that increase quotes and charge for unnecessary services … policyholders who want to cover their deductible or make some extra cash.
Types of Insurance Fraud
Some perpetrators of fraud strategically stage a home accident, such as a fire or flood, and then file a claim for the extensive damages. The bad news for them is that these highly planned schemes have become fairly easy to spot and may result in arrests and jail time.
Exaggerated Claims are a common occurrence during flood claims
Exaggerated claims are usually conducted in one of three ways:
- Adding items to a claim that do not actually exist.
- Boosting the value of an item that was damaged.
- Changing the age of an item to compensate for depreciation.
Social Media Llistening
Social media is a great tool for detecting potential insurance fraud. What some users post on Facebook and Twitter would surprise you! These sites give many users a sense of anonymity, which makes them feel like they can post just about anything.
Through “social media listening,” law enforcement can scan social networks to look for clues surrounding claims that may be fraudulent.
New Orleans, Lafayette, Baton Rouge, Lake Charles, Shreveport, Alexandria, Bossier City, Houma, Morgan City, Thibodeaux, Jennings, Crowley, New Iberia, St. Martinsville, Slidell, Abbeville, Opelousas,