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Tuesday, 20 October 2020 17:39

Maryland Auto Insurance Launches New Auto Insurance Fraud Initiative

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Maryland Auto Insurance has launched an initiative aimed at combatting auto insurance fraud in Maryland.

This comes as the FBI projects insurance fraud accounts for more than $40 billion in costs annually, according to a Maryland Auto Insurance press release.

 

“Maryland Auto has a talented fraud investigative team, and it’s something that we take very seriously,” said Maryland Auto Insurance Executive Director Al Redmer Jr. in the release. “We are going to devote even more time and attention in an effort to make sure we are engaging in best practices to reduce our exposure even more.”

 

Prior to joining Maryland Auto Insurance as executive director, Redmer served as Maryland’s longest tenured insurance commissioner.

 

“As commissioner, I saw the financial costs that all of us pay due to the significant amount of insurance fraud that occurs every day,” he said in the release.

 

Claims Manager William Buck, who oversees Maryland Auto’s Special Investigations Unit, is leading the new fraud initiative. The unit will focus its efforts on identifying the most common factors found in fraudulent policy applications and claims.

 

The initiative will also include a focus on internal and external education. Additional training will be provided for adjusters and educational material for consumers will also be developed.

 

“Through our collective efforts, we will be able to put a wall up against fraudulent actors whose actions have led to increased premium costs for the public and make it difficult for us to meet our overall goal and mission of reducing the uninsured population in our state,” Buck said in the release.


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