According to the Allianz Risk Barometer 2018 business owners consider cyber incidents to be the second greatest threat to their organisations. Cyber threats were second only to business interruption, with respondents citing a cyber incident as the most feared cause of business interruption.... Read More >
Fraud occurs when someone knowingly lies to obtain some benefit to which they are not otherwise entitled to or someone knowingly denies some benefit that is due and to which someone is entitled. Insurance fraud occurs on both the claims and underwriting side, but we will limit the focus of this post to claims fraud. Claims fraud can be broken into two categories – “Soft Fraud” and “Hard Fraud”. Soft Fraud is used to define unwanted opportunistic behavior of normally honest people.... Read More >