Revenue Red Flags: Signs Of Fraudulent Business Interruption Claims

According to the Coalition Against Insurance Fraud, billions in fraudulent claims are made every year in the U.S. This includes all types of insurance, from personal auto to workers compensation to homeowners to health care. It’s also worth noting that any exact estimate is likely conservative, since a lot of fraud goes undetected and unreported. Everyone loses when fraud is committed since it slows the investigation and payout of legitimate claims, increases premium costs for honest policyholders, and, in some cases, puts innocent people in danger. Whether it’s a suspected false claim or exaggerated damages, insurance fraud can put even the most seasoned claims professional on alert.