Insurance fraud is big business, second only to tax fraud as the most widespread crime in the world. It takes many forms, ranging from inflated claims and staged single-vehicle accidents to large-scale commercial arson-for-profit schemes. According to recent estimates by the National Insurance Crime Bureau, insurance fraud costs insurers nearly $120 billion annually.
The prevalence and financial impact of fraudulent claims creates the need for insurers to establish sophisticated means to defend themselves from this costly threat. The seasoned litigation attorneys at Grotefeld Hoffmann can help insurers defend themselves from false claims.
Careful and thorough claims investigations enable us to help our clients separate scams from legitimate claims. Our firm has unparalleled expertise with large-loss events and first-hand knowledge of the proper investigation process in complex cases, as well as an in-depth understanding of the technical aspects of loss dynamics and causation issues. This expertise allows us to provide sound advice to our clients regarding the validity, or invalidity, of certain claims.
The attorneys at Grotefeld Hoffmann are versed in applicable fraud statutes, state unfair claims practices, bad faith case law, and the fraud techniques used by criminals against insurers. Our arson/fraud attorneys include former prosecutors, whose experience is an invaluable asset to the claims investigation process. Our expertise includes evaluating technical and investigative reports regarding cause, obtaining and reviewing pertinent documents, conducting examinations under oath and making well-founded and detailed recommendations regarding the claim decision in a particular case.
Insurers Need Sophisticated Partners to Defend Against Fraud
Insurance fraud constitutes an enormous potential profit to criminals and opportunistic thieves. This temptation makes it likely that false claims will only increase in the future. Realistic decision-makers understand that the most direct way to meet this threat is by increasing the risk to criminals and scam artists. And the best way to accomplish this objective is by partnering with qualified arson/fraud counsel, such as the attorneys at Grotefeld Hoffmann.download pdf