NICB Raises Alarm on Post-disaster Contractor Fraud
Wednesday, May 24th, 2023 Catastrophe FraudFor its third annual Contractor Fraud Awareness Week, the National Insurance Crime Bureau (NICB) has chosen to highlight the issue of post-disaster contractor fraud.
According to NICB, approximately 10% of the $92 billion catastrophe losses suffered by insurers in 2021 went towards post-disaster fraud.
Responding to the impact of the issue, the group has dedicated its latest anti-fraud initiative to educating homeowners on how to safeguard themselves from bad actors in the aftermath of natural disasters.
‘Catastrophic events impact millions of Americans every year,’ said NICB president and CEO David J. Glawe. ‘From hurricanes to floods and everything in between, these events are often scary and life changing. But what makes these events even worse is what happens afterward as homeowners affected by these natural disasters are targeted by dishonest contractors.’
