Insurance fraud costs $308.6bn annually, coalition reports

The Coalition Against Insurance Fraud has released a report estimating that annually, insurance fraud costs the US $308.6 billion.

In 1995, the Coalition estimated this number at $80 billion, though at the time, only the property & casualty insurance line was considered.

The present report addresses all lines of insurance and is also adjusted for inflation, unlike the one in 1995.

The report additionally notes that in 1995 the internet was in its infancy and the estimate, therefore, did not account for new forms of cyber insurance fraud that are impacting the US currently.

The Coalition explains that applying an

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InsuranceVeChain prediction refers to the development possible of VeChain, a new blockchain platform on the crypto trading industry Based in Shanghai and in association with the Chinese government, VeChain, or VET, has already produced important sector progress. All-natural Calamities – The strategy also delivers monetary help against harm arising from earthquakes, storms and far more. Now that you know all about life insurance policies read on to realize the various facets of other basic insurance policies. Comparable to an insurance consultant, an “insurance broker” also shops about for the greatest insurance policy among many firms.

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As cyber insurance costs rise, states rethink policies

Written by Benjamin Freed

When the Town of Peterborough, New Hampshire, announced earlier this week that it lost $2.3 million to a business email compromise scam, officials also said it was unlikely the 7,000-person community would ever recover that money.

The lost sum, which amounted to nearly 15% of the town’s annual budget, is not expected to be covered by the local government’s insurance policy. While that’s typical for losses due to BEC attacks — which typically are not covered by cyber insurance policies — the news came at a time when a premiums are

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