Insurance Fraud is estimated to take between $80 and $300 billion a year from the property and casualty insurance industry, raising the prices each person pays for insurance by more than $300 a year.
This course explains what insurance fraud is and discusses various methods by which insurance fraud is perpetrated. It also covers the various weapons provided by statutory law, legal precedent and professional claims handling that enable companies to reduce the amount stolen by fraud perpetrators. Furthermore, it explains the use of red flags or indicators of insurance fraud and the use of an insurance company Special Investigation Unit (SIU) to gather the evidence necessary to assist in the defeat of insurance fraud.
Who this course is for:
- Anyone interested in Risk Management, Insurance, Ethics or related fields
- No advanced preparation or prerequisites are needed for this course but experience with insurance policies and the business of insurance is helpful
- Recognize what insurance fraud is
- Explore the methods needed to investigate and defeat insurance fraud attempts
- Identify legal bases available to defeat insurance fraud
- Explore the reason why it is in the best interest of insurance companies to actively work to defeat attempts at insurance fraud