Market Insights

Post-Disaster Relief Is Rife With Fraud

UPDATED ON
May 25, 2023
Mployer Advisor
Mployer Advisor
— Written By
Print Friendly and PDF

More than $90 billion dollars of disaster losses were covered by insurers in 2021, and the National Insurance Crime Bureau estimates that about 10% of those funds were lost to post-disaster fraud.

As individual homeowners are disproportionately targeted for these kinds of crimes, many of the fraud-avoiding recommendations provided are tailored accordingly, but the NICB does offer a number of more broadly applicable tips on how to avoid falling victim to such traps, as well, including contacting your insurance company prior to contacting any outside experts or contractors and to be wary of any non-governmental party claiming FEMA endorsement.

You can read more about these issues and find additional post-disaster fraud detection tips here.

Want more insights on how your employee benefits compare to companies in your region, industry, and similar employer size?
Download Your Custom Benefits Report Now
See How Your Employee Benefits Compare

Next Up

Federal Court Ruling May Put Millions of US Companies In Breach of ERISA Fiduciary Duty
A Texas court ruled that American Airlines breached its ERISA duty of loyalty by failing to properly oversee BlackRock’s ESG-driven investment decisions. The decision could put millions of employers at legal risk if upheld. Are ESG investments in retirement plans now a liability?
The Employment Situation for February 2025
The latest economic release from the Bureau of Labor Statistics reports that the U.S. job market added just under 150 thousand jobs last month while unemployment ticked down one-tenth of a point to 4% to close out the last such economic report with data collected under the Biden administration.
Are Centers of Excellence On the Decline?
Centers of Excellence (COEs) may have peaked. While mid-sized employers increased adoption, the largest companies are scaling back. Is this a temporary dip or a shift in employer healthcare strategy?