KCAL Insurance Agency
Phone: (800) 681-8288 E-mail: info@kcal.net
Secret ways insurance companies fight claims fraud
According to the Coalition Against Insurance Fraud (CAIF), insurance fraud is an $80-billion-a-year crime, costing the average American family about $950 annually in excess insurance premiums. Insurers are fighting back in a variety of ways to spot and reduce fraud. The first tactic use is Cross-checks. Commonalities are usually red flags for potential fraud. The second tactic used is employee credit checks. People with bad credit are rarely hired as claims adjusters by insurance firms to prevent them from skimming money. Also, insurance companies will not allow post office boxes to be listed as addresses. Business I.D. such as employer identification number (EIN) and a valid street address are required. Insurance companies also Prefer the U.S. Postal Service.
Source:Insure.com