Auto theft is one of the most prolific claims presented to personal lines and commercial lines automobile insurers. Moreover, when the economy declines, the number of automobile thefts usually increases. Most theft claims are legitimate and involve a crime against the insured. Some, however, are fraudulent claims to sell the automobile to the insurer and protect the insured from making payments the insured can no longer afford.

The purpose of this course is to examine the topic of insurance fraud, with an emphasis on fraudulent auto theft claims. It reviews issues related to investigations and investigative techniques when the vehicle is recovered and when it is not recovered, and describes methods of determining the value of a stolen automobile. The course examines red flags most directly associated with auto theft investigation and the investigation of suspicious auto theft claim. The course concludes with an explanation of some of the challenges insurers face when dealing with insurance fraud and why it is so important that they actively fight fraud.

Upon completion of this course, students will be able to:

• describe various types of auto insurance theft fraud
• describe the tasks involved in adjusting auto theft claims and closing legitimate claims while being on the alert for fraudulent claims
• recognize red flags that suggest an auto theft claim might involve fraud
• describe the challenges insurers face in fighting auto theft fraud and how they are addressing these challenges

P&C producers, brokers, adjusters, risk managers and professionals interested in the prevention, detection and deterrence of fraud