An insured wired $50,000 for a car that didn’t exist. The carrier is denying false pretense coverage under his dealership insurance because the claim is for a car and the dealership is classified as a motorcycle dealership.
Fraudulent vendor invoices are a growing problem.
Do you know how much these crimes cost?
Embezzlements cost hundreds of thousands of dollars.
Small businesses at greatest risk of loss.
Fraudulent vendor invoices a growing problem.
An agent insures a small general contractor that is considering performing work for a large local school system. The school is requesting that a clause be added to the certificate of insurance.
As exposures like social engineering continue to blur the lines between crime and cyber claims, how is the insurance industry responding?
Insurance premium fraud has long been a serious problem across all lines of insurance, especially workers’ compensation. When policyholders falsify company data to reduce their premium, it has negative financial and legal ramifications for everyone, inclu