False or misleading insurance claims cost the insurance industry over $2 billion per year in Australia, losses which are unavoidably passed onto consumers in the form of higher premiums. These so-called victimless crimes are actually having a significant impact on every honest policy holder to the tune of an estimated additional $75 per year. There […]
The Insurance Fraud Bureau of Australia (IFBA) estimates phony claims to cost insurance companies $2.2 billion every year. One in ten claims, in fact, appears to be dishonestly filed. Not only does this place a considerable financial strain on insurance companies but also forces premiums higher for those policyholders not making fraudulent claims. Public spending […]
Far from being a victimless crime, as is often touted, insurance fraud not only costs the insurers billions of dollars per year but this loss forces the policy premiums up for everyone else. Therefore, it is crucial that insurance companies are able to identify fraudulent claims and launch impartial third-party investigations into the incident and […]
