Preventing insurance fraud to keep costs down for insurers and companies.
Fraud not only impacts an insurance company’s bottom line, but the unnecessary payouts could create a financial burden on insurers. According to recent FBI statistics, non-health insurance fraud is estimated to cost the insurance industry more than $40 billion a year. Such costs equate to a $400-$700 increase in annual premiums for the average American family.
Markel’s Special Investigations Unit (SIU) is committed to fighting fraud to protect our customers. Our dedicated team of investigators and analysts has extensive law enforcement and insurance experience and uses its resources to conduct in-depth, thorough investigations. The SIU collaborates with local, state, and federal law enforcement to detect, mitigate, and prevent insurance fraud.