More Fraud Statistics

Posted January 21st, 2013

In America the figures are – as you would expect – even more impressive – or depressing. P&C fraud strips $30 billion from the industry each year. (Source: The Insurance Information Institute). The National Insurance Crime Bureau, (NICB), estimates that fraud is involved in approximately 10% of all losses. One in ten of all losses you handle are likely to be dodgy, fake, stripping money out of your company that shouldn’t be going. This ends up by adding $200-$300 a year in additional premiums to everyone else. Also showing a growing trend the rise in fraudulent claims in America was 7% up on 2010 to 2011, (Source: NICB).