Workers' comp stakeholders eye latest fraud

Workers' comp carriers are helping Florida officials address a money laundering scheme that is costing the state potentially $1 billion per year.

Insurers participate in quarterly meetings of a special workers' comp fraud task force, among other actions.

"We work closely with workers' comp carriers," said Major Geoff Branch of the Florida Division of Insurance Fraud. "They see this as a threat to the market."

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Branch and other officials involved in the anti-fraud effort are working to educate carriers on the warning signs and red flags. "Claims on people they have not heard of or large numbers of insurance certificates going out on minimally insured companies," he said.

Legitimate contractors are also among the strongest supporters, as they want an even playing field. "We explain the severity of the problem," Branch said. "Tell them to try to self police their work sites; make sure they know who is coming on. If they hired subcontractors, make sure they have the right paperwork."

September 17, 2012

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