Failing economy and the rise of insurance scams

With the world wide economy in serious trouble of collapse due to the COVID-19 virus and the affect it has had, we will likely see a rise in insurance scams.

Generally when we see a rise in unemployment or job insecurities, we will see a rise in crime and insurance fraud. Compulsory Third Party Insurance scams are among the most common and are targeted because of the potential of large payouts over other insurances such as WorkCover.  

Recently police arrested more than 30 people involved in CTP scams totalling about $15 million. Apparently CTP insurance stings cost honest motorists about $400 million a year and $75 added to Green Slips. 

Prime Investigations provide investigations into various types of insurance to identify fraud and or support legitimate claims. We act for self insurers, insurers, solicitors and employers.

For more information on our services please go to our insurance investigations page.

An article written by Janet Fife-Yeomans at The Daily Telegraph talks about arrests of more than 30 people in a $15 million CTP fraud attempt.

 

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