Insurance Fraud on the Increase

Amid a sluggish job market, one industry is growing by leaps and bounds: insurance fraud. Cases of suspected insurance fraud — called questionable claims, or QCs in industry speak — rose 27% nationwide from 2010 through 2012, according to new figures released by the National Insurance Crime Bureau, or NICB. During the three-year period, the number of QCs referred by insurers to the bureau increased from 91,652 to 116,171. And unfortunately, the problem is getting worse, growing 9% from 2010 to 2011 and 16% from 2011 to 2012.

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