Fraudulent claims are most prevalent among auto and liability insurance, which represent More than half attempts to defraud insurersAccording to a study presented this Wednesday by Cooperative Research among Insurance Institutions (ICEA) on the day of the fight against insurance fraud.
Thus, according to this report, 10% of claims for compensation for injuries in traffic accidents hide an attempted scam and 6% vehicle theft reports false, In addition, 2.22% of material damage to vehicles is fraudulent and 11% of the amount requested from insurers for theft of the vehicle may have some fraudulent component.
Predominance of this branch, which represents 66% of cases insurance fraudDue to its excellent social presence, according to ICEA.
Miscellaneous insurance is the second group most prone to fraud attempts, accounting for 30% of cases, which includes home, commercial, community owners, business and civil liability insurance.
3% of fraud attempts in life insurance
After automobile insurance, civil liability insurance is most exposed to fraudulent attempts, primarily with regard to the economic aspect. “Although only 1.76% of the accidents caused by these policies conceal fraud, the burden of unjustified claims on the aggregate is enormous,” he told ICEA.
Specifically, for civil liability claims after 10% of the requested payment is an unreasonable claim. Furthermore, in the last year, there has been a huge increase in fraud attempts, rising from 0.76% of cases to 1.82%.
In monetary terms, its economic footprint has grown from 2.40% of claimed compensation in 2019 to 2.56% in 2020 and 2.95% in 2021.
other 3% of fraud attempts occur across the life, accident and health lines, That is, in the so-called personal insurance. The remaining 0.5% corresponds to other lines of business.
“Fraud is a crime that harms society as a whole”, they wanted to highlight during the fight against fraud. “When a fraudster makes an unreasonable or exaggerated claim, what he does is try to obtain an advantage that does not suit him at the expense of the rest of the insured, who are honest.”
One in ten claims for compensation for a traffic accident is an attempted scam.