Fraud Prevention
This internal policy requires employees to report suspected fraud immediately.
What is Fraud reporting policy?
Submitting a false or exaggerated claim for an injury that never happened is an example of this.
What is insurance fraud?
Insurers sometimes use this technique to confirm whether an employee’s injury is legitimate.
What is Surveillance?
This percentage of global annual revenues is lost to fraud, according to the Association of Certified Fraud Examiners.
What is 5%?
The tool we use to identify claim history
If an email urges immediate action and asks for confidential information, it is likely this type of scam.
What is phishing?
When multiple parties conspire to stage an accident for financial gain, it is known as this kind of fraud.
What is a staged accident?
When an employer misclassifies employees as independent contractors to pay lower premiums, it’s called this.
What is premium fraud or employee misclassification?
According to the FBI, insurance fraud costs the US insurance industry this many billions of dollars per year.
What is $80 billion?
Customers are encouraged to do this to help prevent insurance fraud after a car accident.
What is document the scene/take photos and contact police?
This term describes intentionally misrepresenting facts to obtain a benefit one is not entitled to under an insurance policy.
What is material misrepresentation?
in New York these laws deal with construction industry safety especially for those who work at an elevated height
What is New York Labor Laws
This is the average number of months an occupational fraud scheme lasts before it is detected.
What is 12 months?
If a website URL has this small but crucial detail, it’s safer for entering sensitive information.
What is HTTPS (the “S” stands for secure)?
The process of reviewing previous claims history to spot patterns of abuse is known as this.
What is claims analysis or data analytics?
What are the top three forms of workers compensation fraud?
Claimant, Provider, Premium
In property and casualty insurance, about 1 in this many claims is estimated to be fraudulent.
What is 1 in 10 claims
These are the two main factors you should never share over the phone or email to prevent identity theft.
What are passwords and personal identification numbers (PINs)?
When an employee repeatedly files claims for minor injuries, it’s known as this pattern.
What is frequent filer or serial claimant?
Doctors or clinics that repeatedly submit inflated medical bills for minor injuries may be participating in this.
What is medical provider fraud or billing fraud?
This percentage of fraud cases are first detected by a tip, according to the Association of Certified Fraud Examiners.
What is 42%?