The deteriorating economy appears to be having an impact on our business. We are being referred more insurance disputes involving losses that are directly the result of the souring economy.

For the first time in a decade, we have been referred several fire claims that are allegedly of an incendiary (intentionally set) cause.

There are

Jay,

Maybe yours  and Barry Zalma‘s comments regarding the amount of fraud are correct. However, you provide no objective and reliable data to support your comments. Without that information, your unsupported statistics are little more than fear and suspicion-mongering, which governments and corporations use all the time to influence their citizens and customers.

I received a comment to a recent blog regarding a perception among many of my colleagues that insurance companies are fabricating the amount of insurance fraud that goes on in the United States. I think the comment is important to highlight because it is an admission that the insurance industry fabricated those statistics. Barry Zalma wrote in part:

Although insurance fraud exists and is recognized by insurers and police agencies, no one really knows how extensive it is because most frauds succeed and are never recognized; others are recognized and paid by the insurer who is unwilling to get into a long and drawn out fight with the fraud perpetrator; and a very few are caught and prosecuted.


Continue Reading Insurance Fraud Expert Admits Insurance Industry Makes Up Statistics