Did you know that workers’ compensation fraud costs the state of California up to $3 billion each year? You read that right. THREE. BILLION. DOLLARS. Those kinds of losses are bound to have ripple effects up and down the state and across all industries.
Workers’ compensation fraud hurts everyone
Fraud infiltrates every workers’ comp carrier and hurts everyone by driving up rates and contributing to higher consumer prices, even resulting in businesses sometimes having to reduce their workforce due to higher premiums.
What State Fund is doing to stop fraud
With the help of their award-winning fraud team and Special Investigation Unit (SIU):
- They investigate hundreds of tips each In 2023, they received over a thousand leads, 723 of them turning into full investigations that resulted in convictions and court-ordered restitution.
- They work collaboratively with law enforcement to investigate cheaters and facilitate
- They offer resources like these anti-fraud posters to help brokers and policyholders learn the red flags, how to spot and report fraud and how to fight it.
Their efforts are paying off
With the help of business partners, brokers, policyholders and law enforcement, their efforts to stop fraud have been fruitful. In 2023, the amount of restitution ordered by the courts was over $14 million. State Fund will continue to ensure fair pricing for everyone by taking fraud seriously. Learn more about how State Fund fights fraud.
We appreciate the opportunity to serve you and your clients.
Your Amwins Access State Fund Team!
