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According to a recent Munich Re finding, 2011 has become the highest-ever loss year on record due to natural catastrophes. Though most of the losses were caused by the earthquake in Japan, the U.S. has seen its share of cat losses and claims — some fraudulent. To learn more about the of post-catastrophe fraud, I [...]
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There are a lot of events and anecdotes that risk managers can draw lessons from. September 11, Hurricane Katrina, the financial crisis and the Gulf oil spill are the among the most oft-repeated. But Pat Huddleston, former enforcement branch chief of the SEC’s enforcement division, has written an excellent article that looks to more unique [...]
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As you may have guessed, the country’s economic conditions have caused a nationwide spike in insurance fraud. A recently released report by the Coalition Against Insurance Fraud points to the economy and continuous pressures on state budgets as the reason for a spike in fraud cases. Overall, the economy in 2009 appears to have had [...]
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We know all too well that insurance fraud (and many other illegal money-making schemes) ramp up in down economies. But what sector of insurance will it hardest in the new year? According to National Underwriter and the Coalition Against Insurance Fraud, the answer is health insurance. In a survey of 37 fraud bureaus, the Coalition [...]
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