According to the National Insurance Crime Bureau, workers’ compensation fraud costs American businesses, workers, consumers and shareholders nearly $7.2 billion per year. There are several types of workers’ compensation fraud, and fraud can be committed by just about anyone.
Most companies see workers’ compensation insurance as a fixed cost of doing business. However, workers’ compensation fraud can actually raise the cost of running your business. The best way to prevent your employees from cheating the system, and increasing your premiums, is through prevention.