Safeguard Against Contractor Fraud During Disaster Recovery (Insurance Information Institute)

Safeguard Against Contractor Fraud During Disaster Recovery

Monday, May 20th, 2024 Catastrophe Fraud Property Risk Management

This week, from May 20-24, 2024, the Insurance Information Institute (Triple-I) and the National Insurance Crime Bureau (NICB) are observing Contractor Fraud Awareness Week to educate homeowners on safeguarding against dishonest contractors. Sean Kevelighan, CEO of Triple-I, highlights the significant delays and obstacles victims face in the rebuilding process due to contractor fraud. David J. Glawe, president and CEO of NICB, underscores the financial impact of these fraudulent activities on American homeowners, especially post-disaster.

Fraudulent contractors often begin their scams with unsolicited visits or flyers, preying on the vulnerabilities of those affected by natural disasters. To protect themselves, homeowners should verify contractor credentials, including driver’s licenses, vehicle plate numbers, and insurance certificates. Investigating the track record of potential hires, seeking local, licensed, bonded, and insured professionals, and consulting the Better Business Bureau are essential steps. Additionally, homeowners should collect multiple estimates, get detailed written contracts, and avoid making large upfront payments or signing contracts with blanks.

In cases of suspected fraud or encouragement to fabricate insurance claims, homeowners are advised to contact their insurance company, local police, or the NICB hotline. The initiative aims to empower homeowners with knowledge and resources to ensure they hire reputable contractors and avoid falling victim to scams.


Claims Pages Staff Writers are dedicated professionals covering a broad spectrum of insurance topics, including auto, catastrophe, education & training, fraud, legislation, liability, life & health, litigation, property, risk management, technology, underwriting, and workers' compensation. With over 25 years of distribution, our publication brings you accurate and timely information to keep you informed and ahead in the claims industry.


External References & Further Reading
https://www.iii.org/press-release/triple-i-and-nicb-join-up-to-help-consumers-fight-contractor-fraud-052024

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