Ignorance and Workers’ Comp Fraud
Ignorance and Workers’ Comp Fraud
As this video shows, many workers’ comp fraudsters deceive their employers and the US taxpayer in a blatant, purposeful manner. Some individuals file false or inflated claims out of ignorance, however, due to a lack of information and knowledge regarding insurance fraud. They simply do not realize the seriousness of their offenses.
To help clear up the level of misinformation regarding insurance fraud, The Pennsylvania Insurance Fraud Prevention Authority has published these research findings.
We recommend forwarding this e-mail to your colleagues and staff. Knowledge about insurance fraud is limited.
Only one in six respondents was knowledgeable about how insurance fraud is classified and defined. Even fewer understand insurance fraud is a felony. Many Pennsylvania residents do not consider insurance fraud to be a serious crime. In fact, it can cause the perpetrator serious jail time. Nearly seven in ten Pennsylvania residents stated strongly they would never consider committing insurance fraud. With over 12 million Pennsylvania residents, this suggests approximately 2.5 million residents might consider committing the crime. Almost all Pennsylvania residents believe those who perpetrate insurance fraud rarely get caught.
Following are common instances of workers’ comp fraud:
- Malingering or exaggeration of symptoms
- Working while allegedly disabled and not reporting income
- Claiming a job-related injury that never occurred
- Claiming a non-work related injury as a work-related injury
We are dedicated to anticipating risk and helping firms recover from unplanned events that wait on the other side of one minute from normal, beginning with education. To learn more about recognizing and controlling insurance fraud, please contact your KMRD Partners account representative.
KMRD reduces the overall cost of risk for clients by producing a greater value for each insurance dollar spent, while utilizing an enterprise risk management approach to engineer the optimal solution. The firm’s diagnostic process is supported by its unique collaborative technology, KMRD XCHANGE ®
To identify and correct coverage and service gaps in your insurance contact us at contactus@kmrdpartners.com before one minute from normal strikes your company. Please feel free to share this e-mail with anyone who may find it to be useful.
