I’m pleased to see the formation of the NJ task force.
Premium Fraud dwarfs claimant fraud in absolute dollars and perhaps frequency, and is perhaps as costly as provider fraud. Strangely, Carriers, SIU’s, and Regulators concentrate their resources on claim fraud. Hot spots are PEO’s, temp staffing companies, and contractors. See http://www.premiumfraud.com
As a licensed agent for 24 years snd having been a Corporate Risk Manager with a specialty in Captive Development I believe I have a deep insight into this issue.
Currently, I am the CEO of a company called ABC Payroll, a national payroll processing company headquartered in New Jersey serving clients in all states.
THERE IS AN ABSOLUTE SOLUTION TO PREMIUM FRAUD – YET NO ONE IN THE INDUSTRY, AT THE DEPARTMENT OF INSURANCE OR AT BUREAU OR, FOR THE MOST PART AT THE CARRIER LEVEL WISHES TO RECOGNIZE THIS SIMPLE, SAFE AND EFFECTIVE SOLUTION.
I’ have personally made a presentation to several carriers as well as the NYSIF and ALL have agreed that the system (which I am referring to) WILL WORK at dramatically reducing and/or eliminating premium fraud WHILE at the same time increasing profits from existing filed rates.
If this committe is serious about reducing and/or eliminating premium fraud and improving profitability of the Work Comp line I CHALLENGE THEM TO CONTACT ME TO DISCUSS THIS SYSTEM (INCLUDING A WORKING DEMONSTRATION) AND TO IT’S CAPABILITIES.
Best wishes to Gary & PIA from the NJAAA-NAAA.
I’m pleased to see the formation of the NJ task force.
Premium Fraud dwarfs claimant fraud in absolute dollars and perhaps frequency, and is perhaps as costly as provider fraud. Strangely, Carriers, SIU’s, and Regulators concentrate their resources on claim fraud. Hot spots are PEO’s, temp staffing companies, and contractors. See http://www.premiumfraud.com
As a licensed agent for 24 years snd having been a Corporate Risk Manager with a specialty in Captive Development I believe I have a deep insight into this issue.
Currently, I am the CEO of a company called ABC Payroll, a national payroll processing company headquartered in New Jersey serving clients in all states.
THERE IS AN ABSOLUTE SOLUTION TO PREMIUM FRAUD – YET NO ONE IN THE INDUSTRY, AT THE DEPARTMENT OF INSURANCE OR AT BUREAU OR, FOR THE MOST PART AT THE CARRIER LEVEL WISHES TO RECOGNIZE THIS SIMPLE, SAFE AND EFFECTIVE SOLUTION.
I’ have personally made a presentation to several carriers as well as the NYSIF and ALL have agreed that the system (which I am referring to) WILL WORK at dramatically reducing and/or eliminating premium fraud WHILE at the same time increasing profits from existing filed rates.
If this committe is serious about reducing and/or eliminating premium fraud and improving profitability of the Work Comp line I CHALLENGE THEM TO CONTACT ME TO DISCUSS THIS SYSTEM (INCLUDING A WORKING DEMONSTRATION) AND TO IT’S CAPABILITIES.