Faltering economy brings rise in suspicious claims
Image by Getty Images via Daylife According to an industry source, the souring economy has brought a rise in suspicious claims. The National Insurance Crime Bureau said 41,619 suspicious claims were reported to the organization by member insurance companies, who reported claims based on property, casualty , commercial and vehicle policies. As has often happened in the past, when income goes south, questionable/suspicious claims increase. A word to the wise, insurance companies are aggresively investigating any and all claims that pop up on their radar . Worth remembering that a dip in income overall also leads to a dip in income for insurance companies. In order for them to preserve sufficient surplus to pay out on valid claims they tend to keep a sharper eye out for fraudulent activity during economic downturns.