Recent research shows a troubling trend in consumer attitudes toward fraud particularly when it comes to insurance and workplace violence. Researchers with the Coalition Against Insurance Fraud found that one in five US adults believe it’s acceptable to defraud insurance companies under certain circumstances. That figure represents 45 million people.
Over the decade prior, the study showed a significant increase in the number of Americans who deem it ethical to:
- Misrepresent facts on an insurance application to lower their premiums;
- File a claim for damage that occurred before the damage was covered;
- Inflate a claim to cover a deductible;
- Misrepresent an incident in an effort to secure payment for losses covered and not covered.
These attitudes are particularly troubling during economic downturns, when a full 76% (up from 66% in 2003) of respondents admit they are more likely to commit insurance fraud.
The Brumell Group offers risk assessment and prevention programs to combat these trends.
Protect Your Company from Fraud
To help protect your company from the costs and losses associated with fraud — insurance or otherwise — Brumell Group offers fraud and risk consulting services. We conduct a thorough assessment of your company’s operations, policies and procedures and provide a report that identifies strengths and reveals weaknesses in your company’s security and anti-fraud efforts. We then help you develop a solid, multi-faceted plan to minimize risks of fraud, provide possible restitution where applicable; which result in significant cost savings, all to better protect your company from the financial and reputational damages of fraud.
We also offer ongoing SIU management and compliance services in cooperation with your in-house compliance directors, as well as continuing education courses to help keep your staff aware of changes, trends and legislative issues affecting the insurance industry.
Security and Workplace Violence Risk Assessment Program
We’re vigilant about keeping your business and workforce safe. According to the Bureau of Labor Statistics Census of Fatal Occupational Injuries (CFOI), of the 4,679 fatal workplace injuries that happened in the U.S. in 2014, 403 were workplace homicides. That’s why we’ve created the Workplace Violence Prevention Program, a proactive method to prevent violence from occurring. As part of the program, we will visit your facility and create a detailed, tailored plan to ensure that you and your employees feel safe. Please see our business page and its services for more information.
Call Brumell Group today to schedule your consultation.