Triple-I Joining Nov. 17 Twitter Chat on Insurance Fraud Awareness

A live Twitter chat is being conducted on Thursday, Nov. 17, at 1 p.m., ET, as part of International Fraud Awareness Week, according to the Insurance Information Institute (Triple-I), one of the event’s participants.

‘Fraud schemes affect all types of insurance in the United States, yet those who have suffered property damage from a natural disaster are most at risk of becoming victims as unethical contractors often seek to take advantage of them and their insurer,’ said Loretta Worters, vice president, media relations, Triple-I, who will represent the organization during the Twitter chat.

Insurance fraud is a deliberate deception perpetrated against an insurer for financial gain.

Fraud may be committed at different points in the insurance transaction by applicants for insurance, policyholders, third-party claimants such as contractors and public adjusters, or even unscrupulous insurance agents who provide services to claimants, according to Triple-I.

Common insurance fraud schemes include ‘padding,’ or inflating actual claims, misrepresenting facts on an insurance application, submitting claims for injuries or damage that never occurred, and ‘staging’ auto accidents.