International Fraud Awareness Week

It’s International Fraud Awareness Week sponsored by the Association of Certified Fraud Examiners. It’s a global effort to minimize the impact of fraud by promoting anti-fraud awareness and education. Here at NICB we are continuously engaged with our members and law enforcement partners in the fight against insurance fraud and theft, but we can’t do it alone. We support weeks like this to call attention to a major problem that’s not just impacting the United States, but countries all over the world. 

You see news stories everyday about people committing insurance fraud. In fact, insurance industry estimates indicate that 10 percent or more of property-casualty insurance claims may be fraudulent. Fraud is the second most costly white-collar crime in America after tax evasion. 

Insurance fraud has very real consequences as it increases the cost of insurance for everyone, which means we all have a role to play in tackling this problem.  

From organizations like NICB, insurance companies, law enforcement, and policymakers we all can work together to educate the public and stop criminals from taking advantage of hard-working citizens.  

Educating the public and consumers about what to look for and how to combat insurance crime is crucial to our success and mission. When a deal seems too good to be true, it’s likely a scam.   

Departments of Insurance in each state offer fraudulent reporting hotlines where consumers can report fraudulent activities or persons they encounter. You can also call 800.TEL.NICB to report insurance fraud, or submit an anonymous tip online. 

The protective resources for consumers are out there, we just need to remind them.