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Did You Know?

Did You Know?

Did you know the Coalition Against Insurance Fraud (“CAIF”) published a report on fraud in life and disability insurance?  If you are not familiar with CAIF (www.insurancefraud.org), it’s one of many different web based resources available for claims professionals to locate information.  As indicated by its name, CAIF focuses on fighting insurance fraud.  In 2014 CAIF formed a task force to research the severity of life and disability insurance fraud and how the government and insurers are fighting it.  In April 2017, CAIF’s Life & Disability Task Force published a final report that should be required reading for all life and disability claim professionals.  Included in the report are types of fraud, results from life insurers, anti-fraud activities, survey results from fraud bureaus and prosecutors, and recommendations.  The report also includes an appendix of sample life insurance fraud cases and specific laws and regulations.  The report is an excellent resource for claims professionals at all levels to better fraud and how the industry combats it.   You can find the report by clicking on the following link:  www.insurancefraud.org/downloads/Coalition_life_disability_report_04-17.pdf