In today’s litigious society, it’s not uncommon for businesses to face lawsuits on a regular basis. While some of these are valid claims from consumers requesting compensation for injuries or property damage, there are plenty others that are filed by people simply looking to gain financially.

These are instances of insurance fraud, and it’s important for business owners to know how to protect themselves from being held liable for the consequences. As the leading commercial insurance company in Beatrice, NE, Fritch Insurance provides a variety of high-quality coverage options designed to help companies minimize their financial loss. Below, they share a few things businesses can do to prevent paying out on fraudulent claims.

A Commercial Insurance Company Suggests 3 Steps Businesses Can Take to Avoid Insurance Fraud

1. Hire Security Personnel

Having security personnel on the premises can be particularly helpful in limiting cases of insurance fraud. They are trained to keep a close eye on customers and take notice when something seems out of the ordinary. They can often deter criminal activity from occurring or offer witness testimony to disprove an unfounded claim.

2. Install Surveillance Cameras

Installing surveillance cameras around the property is one of the most effective ways to discredit false liability claims against a business, especially in slip and fall cases. Footage from the cameras will provide visual evidence of what actually took place and give the company a solid defense to present to the other party.

3. Keep Detailed & Accurate Records

Keeping detailed and accurate records of what goes on around the premises is another technique commercial insurance companies suggest business owners use to determine when a claim is fraudulent. Being vigilant about documentation will help companies track each claim and remember exactly what happened on specific dates.

Being proactive about implementing security measures will help business owners avoid falling victim to insurance fraud. It’s also essential to make sure their operations have adequate insurance coverage to reduce financial risk. Contact Fritch Insurance at (402) 223-3312 to schedule a time to explore different products or visit the commercial insurance company’s website to learn more.