Insurance Investigations - Workers Compensation Investigations
insurance investigators in myrtle beach, sc


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Insurance Investigations - Workers' Compensation Investigations - Myrtle Beach

Insurance fraud occurs every day in every state. While most experts agree that the actual financial impact of insurance fraud is not easy to calculate, the Insurance Information Institute estimates that all property/casualty insurance fraud cost insurers about $30 billion annually. Of this, workers’ compensation fraud accounts for approximately 25 percent or a whopping $7.2 billion a year, according to the National Insurance Crime Bureau (NICB).

The NICB characterizes workers’ compensation fraud as the “fastest growing segment of insurance fraud” in the nation. As one company executive put it, “If workers’ comp fraud were a legitimate business, it would rank among Fortune 500 companies.” And, workers’ compensation fraud is not just a cost borne by insurers. Insurance fraud costs everyone – insurers, employers, workers, consumers, and shareholders.

Employee or claimant fraud can come in the guise of an accident or injury that is not workers’ compensation related, is “staged,” or is prolonged, in order to derive benefits to which the employee is not otherwise entitled. Of the many faces of fraud, this information addresses employee claimant fraud, which is said to comprise about 20 percent of all workers’ compensation claims paid.

When a claimant files a fraudulent workers’ compensation claim and that claim is paid, several things may happen:

  • The company’s loss experience record will look greater than it legitimately should be.

  • The company’s workers’ compensation insurance premium may rise, due to the fraudulent claim.

  • As a consequence, consumer price may increase or employee wages decrease to cover the cost

  • Shareholders may find themselves with diminishing equity returns

Don't get stuck "holding the bag" on fraudulent claims. Our insurance investigators will employ state-of-the-art equipment along with their years of experience to help you gather the evidence you need. Ongoing, unchecked claims can be very costly when, often times, a few activity checks and basic investigative surveillance can end the matter.

Phoenix investigators are experts in covert surveillance and will go to work for you while keeping the claimants expectation of privacy intact. Our investigators are fully capable of gathering the necessary evidence in a non-invasive manner, while completing professional investigative reports to prepare our clients when our surveillance is actionable.