Detecting Contents Fraud: A Practical Approach To Examining An Insured’s Loss Inventory List

Fraud remains a major issue for insurance companies, since it is discovered frequently in both legitimate and bogus claims. In both types of claims, an insured may attempt to defraud the insurer regarding either the quantity or quality of contents reportedly damaged or lost. Strategies and tools to help uncover incidents of contents claims fraud include scene investigations, proof-of-loss forms, recorded statements, and examinations under oath. The most critical piece of evidence, however, may be the insured’s contents inventory.