Avoiding fraud after a natural disaster – InsuranceNewsNet

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With hurricane season and wildfire season on the horizon in many parts of the country, damage and loss of homes in affected areas is inevitable.

The National Crime Insurance Bureau warns those who live in areas that could suffer from a natural disaster to not only be prepared for disaster, but to be aware of the potential for fraudulent contractors and sellers to take advantage of victims afterwards.

According to the NICB, up to 10% of paid disaster claims can be attributed to fraud. In 2021, insurers paid $92 billion in sinister catastrophes, until $9.2 billion attributable to fraud.

Oftentimes, these deceitful actors target neighborhoods affected by disasters and make an unsolicited stopover at your doorstep. They will take your money, often overcharging, and do shoddy work or none at all, promising that your insurance company will pay for everything.

Insurance fraud related to natural disasters can add millions of dollars paid out by insurers, which translates into higher premiums for policyholders. In some cases, individual owners have to pay up to tens of thousands of dollars that they may not be able to recover.

On tuesday 24 mayPresident and CEO of NICB David Glawe hosted a national media tour with TV stations across the country to discuss how to avoid home repair fraud after a natural disaster and many other friendly topics.

During the media tour interviews David Glawe discussed:

What steps homeowners can and should take before a natural disaster and how being prepared can help reduce the risk of becoming a victim of fraud

The type of fraud that occurs in the aftermath of disasters as victims attempt to rebuild their homes and lives

Best practices for disaster victims when hiring contractors or suppliers and tips for avoiding dishonest contractors

What will be the federal response following a natural disaster and what it entails both for recovery and to help mitigate fraud issues

The most common methods used by fraudulent contractors to scam victims

Resources available to help homeowners and other disaster victims avoid potential fraudsters or report fraud when they are victims

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