In an effort to streamline the process of reporting possible fraud in a filed claim while also saving state insurance departments time and money, three national insurance groups are pooling resources.
Tips from the public about insurance crimes to a national group doubled from 2008 to 2009, as people “lost their patience” with insurance fraud, the group said.
As a way to increase the reporting of insurance fraud from the more than 246 million cell phone users in the U.S., the National Insurance Crime Bureau (NICB) is adding a text feature to its reporting system.
Questionable or suspicious property-casualty insurance claims, a byproduct of a bad economy, are on the rise, with about 13% more reported in the first half of this year than during the same period last year.
As a direct result of the Patient Protection and Affordable Care Act (PPACA) – also known as ObamaCare – health insurance agent and broker commissions have been slashed by as much as 50%. Agencies have been forced to lay off employees, limit products and services, shift to other lines, and have seen significant drops in compensation.