Insurance Fraud Awareness
- Course Delivery: On Demand
- Credit Hours: 6
- Language: English
- Credit Type: 3 LRE, 3 Life and Health
- Difficulty: Intermediate
- Audience: Connecticut Licensed Insurance Professionals
The insurance industry in the United States consists of more than 5,000 companies with over $1.8 trillion in assets. The insurance industry is one of the largest and most interdependent of the United States industries, making it a critical U.S. industry. Insurance fraud has become one of the most prevalent and costly white-collar crimes. According to a published study by the Coalition Against Insurance Fraud (CAIF), fraud is among the most prominent cost components escalating the costs of insurance. The CAIF has estimated the annual loss figures relative to insurance fraud (non health insurance) to be approximately $26 billion. F raud is costing companies, businesses, and individuals, who pay higher insurance premiums. Identifying, targeting, and dismantling those individuals, organized groups, and con artists committing fraud against the insurance industry will accomplish reducing the amount of economic loss to the insurance industry due to fraud. This course provides an overview of insurance fraud, which will provide the student with an understanding of the nature, costs, results and methods of preventing insurance fraud. The ultimate goal of this course is to increase awareness of insurance fraud and demonstrate the importance of preventing insurance fraud. Topics covered include: Ethics, Fraud Detection and Prevention, Patterns and Indicators of Fraudulent Claims, Legal Issues, and Consumer Protection.
Upon completion of the course, the student will be able to:
- Understand insurance fraud.
- Understand the relationship between ethics and insurance fraud.
- Understand and take the necessary steps to prevent insurance fraud.
- Identify the fraudsters who commit insurance fraud.
- Understand fraud within the insurance process.
- Identify and spot patterns and indicators of fraudulent claims.
- Understand the relationship between fraudulent claims and the insurance industry.
- Understand the legal Issues associated with insurance fraud.
- Understand consumer protection and insurance fraud.
This course will address the following topics:
- An Introduction to Insurance Fraud
- Preventing Insurance Fraud
- Identifiying the Fraudsters
- Fraud Within the Insurance Process
- Patterns & Indicators of Fraudulent Claims
- Fraudulent Claims and the Insurance Industry
- The Legal Issue in Insurance Fraud
- Consumer Protection and Insurance Fraud
Insurance Fraud Awareness - Connecticut Insurance Department
End of Course Instructions
Congratulations! You have successfully completed your continuing education course. 360training or a 3rd party affiliate of 360training will report your credit hours to the Department of Insurance within 15 days. Keep in mind that certificates of completion must be kept on file for 5 years.
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