Insurance Fraud: Red Flags for Property and Liability Insurance

Overview

It is estimated that fraud represents about 10 percent of the property/liability insurance industry’s incurred losses and loss adjustment expenses each year. Unfortunately, fraud often goes undetected because claims representatives or other personnel involved in insurance transactions fail to notice the “red flags” that ought to raise their suspicions and trigger further investigation. 

This course concentrates on the red flags most often associated with property and liability insurance fraud. Insurance fraud is not limited to fraudulent claims activities, but most of the red flags we will discuss are associated with claims.

Learning Objectives

Upon completion of this course, students should be able to

  • explain the importance of recognizing red flags that might indicate insurance fraud
  • describe various types of insurance fraud
  • explain who commits insurance fraud
  • describe the motives for committing insurance fraud
  • describe red flags associated with insurance policies’ origin and underwriting background and how a claim is presented
  • recognize red flags uncovered during the active investigation of a claim or in connection with claims-related documents and records

Designed For

P&C producers; adjusters and public adjusters
International Risk Management Institute, Inc. (IRMI) is the premier provider of risk and insurance continuing education and reference publications, and is considered the ultimate authority by leading insurance practitioners. Written by industry experts, IRMI courses provide the most up-to-date, practical and reliable information possible.
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