Is your claimant or person of interest in bankruptcy? Are there outstanding liens against him or her? Claims and SIU professionals need as many insights as possible when evaluating a claim, including background information on the claimant — and other parties to the claim. Information from bankruptcy, liens, judgments, and foreclosure filings can drastically help [...]
John Deegan
Storms starting with the letter “I” may have ravaged Texas in the recent past, but that only obscures the state’s greatest natural catastrophe threat: hail. The Texas Department of Insurance (TDI) has explained the impact of severe hail events over the past few years, and the implications are profound. Carriers covering insureds in Texas can [...]
The fraudsters always have a head start. They know the scams they want to pull off, and claims adjusters and investigators have the challenge of catching up. With Vehicle Location Reports, a new tool in Decision Net, it gets easier to erode their edge, prevent fraud, and protect your capital. With Vehicle Location Reports, you [...]
Lightning claims present rich opportunities for fraudsters — and the stakes for those claims keep getting higher. According to data from the Insurance Information Institute, the cost per lightning claim in the United States has surged 93 percent over the past seven years — to just over $5,000. Overall, lightning claims cost carriers about $1 [...]
Mysterious hit-and-run accidents, phantom vehicles that cause damage, and questionable motor vehicle accident reports — all are part of fraudulent insurance claim schemes today. Savvy criminals create incidents and use them in reporting false claims. And that fuels the insurance industry’s ever-increasing fraud problem. Insurers see such claims at a small scale, with a single [...]
