Brumell Group Certified FRAUD CONSULTING Examiners Florida, Singapore, Hong Kong, United Kingdom
Recent research shows a troubling trend in consumer attitudes toward fraud, particularly when it comes to insurance. Researchers with the Coalition Against Insurance Fraud found that one in five US adults believe it’s acceptable to defraud insurance companies under certain circumstances. That figure represents 45 million people.
Over the decade prior, the study showed a significant increase in the number of Americans who deem it ethical to:
- Misrepresent facts on an insurance application to lower their premiums;
- File a claim for damage that occurred before the damage was covered;
- Inflate a claim to cover a deductible;
- Misrepresent an incident in an effort to secure payment for losses covered and not covered.
These attitudes are particularly troubling during economic downturns, when a full 76% (up from 66% in 2003) of respondents admit they are more likely to commit insurance fraud.
PROTECT YOUR COMPANY FROM FRAUD
To help protect your company from the costs and losses associated with fraud — insurance or otherwise — Brumell Group offers fraud consulting services. We conduct a thorough assessment of your company’s operations, policies and procedures and provide a report that identifies strengths and reveals weaknesses in your company’s security and anti-fraud efforts. We then help you develop a solid, multi-faceted plan to minimize risks of fraud, provide possible restitution where applicable; which result in significant cost savings, all to better protect your company from the financial and reputational damages of fraud.
We also offer ongoing SIU management and compliance services in cooperation with your in-house compliance directors, as well as continuing education courses to help keep your staff aware of changes, trends and legislative issues affecting the insurance industry.
Call Brumell Group today to schedule your consultation.
