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Awash in fraud

Article Abstract:

Millions of dollars are lost each year to fraudulent insurance claims for damaged property. A large portion of this fraud is attributable to public adjusters - ironically, experts hired by insurers to minimize the cost of repairs. These adjusters often inflate costs by serving as brokers for different construction-related services. Insurers can guard against such abuses by employing knowledgable project-management companies, by auditing billings and by educating staff about fraudulent practices.

Fire, marine, and casualty insurance, Prevention, Property and casualty insurance, Crime, Insurance fraud, Third-party administrators (Insurance), Third party administrators (Insurance)

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Covering cyberspace

Article Abstract:

Inland marine insurance is responsible for providing coverage for communications-related crimes such as those that transpire in the Intranet and Internet. The considerable growth of online commerce will give rise to computer network fraud, illegal access, vandalism and destruction of files which will surely cost companies a lot of money. Hence, inland marine insurers must be able to assess risk information to develop the necessary actuarial base.

Insurance, Insurance Carriers and Related Activities, INSURANCE CARRIERS, Usage, Internet, Computer crimes, Intranets, Inland marine insurance

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