Fraudulent claims account for a small but significant portion of all claims received by insurers, costing billions of dollars annually. Insurance frauds are diverse, occurring in all areas of insurance. Their severity ranges from slightly exaggerated claims to deliberately caused accidents or damage.
Such is the case with auto insurance fraud, where individuals use a variety of methods to claim more money than they are entitled. Every insurer should realize that one in three auto insurance claims are potentially fraudulent.
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