By a News Reporter-Staff News Editor at Insurance Weekly News -- Newswire/ -- As the New Orleans area recovers from the damage caused by a string of powerful tornadoes, the National Insurance Crime Bureau (NICB) reminds consumers that in the weeks ahead, homeowners in disaster areas should be alert to the potential for fraud by unscrupulous contractors and home repair businesses.
After a disaster, contractors often go door-to-door in affected neighborhoods offering clean up and/or construction and repair services. Most are reputable, but many are not. One common scheme is to pocket a down-payment and then never show up for the job, or never complete a job that was started. Another scheme is to use inferior materials and perform shoddy work that is not up to code in order to increase profit.
NICB has personnel in the affected areas assisting our member insurance companies and a video of the area is available HYPERLINK "https://www.youtube.com/watch?v=8B5CoCenhQk" nhere.
"If you didn't request it, reject it"
Almost all of these scams are unsolicited-they begin with a visit from a contractor who seeks to help victims rebuild. That is why NICB recommends that "if you didn't request it, reject it." Before hiring any contractor, call your insurance company. Your insurance company will honor its policy so there is no need to rush into an agreement with a contractor who solicits your repair work-especially when you did not request it.
Keywords for this news article include: Legal Issues, Insurance Companies, National Insurance Crime Bureau.
Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2017, NewsRx LLC
Principal Financial Group Inc. Files SEC Form 4, Statement of Changes in Beneficial Ownership of Securities (Feb. 13, 2017)
1347 Property Insurance Holdings, Inc. Files SEC Form SC 13G/A, Statement of Acquisition of Beneficial Ownership By Individuals (Feb. 14, 2017)
Advisor News
- How advisors can help frugal retirees finally enjoy their savings
- Wealth planning vs. estate planning: Honoring your client’s wishes
- What to discuss during the first retirement planning meeting
- Inflation, competing priorities and uncertainty erode retirement security
- As health premiums rise, 1 in 8 workers cut retirement savings
More Advisor NewsAnnuity News
- Jackson Announces New Annuity Offering for AARP Members
- National Life Group expands annuity portfolio
- AM Best to Join Life/Annuity Insurance-Focused Panel Discussion at Capitol Forum Event
- USAA Earns No. 1 Ranking in JD Power Individual Annuity Study for the Third Consecutive Year
- How flexible annuities fit today’s retirement portfolios
More Annuity NewsHealth/Employee Benefits News
- Mending Health moves into conservatorship as Oklahoma steps up oversight
- Genworth's McInerney to retire
- Genworth Financial's McInerney to retire
- Let’s stop being insurance salespeople
- As WA open enrollment begins, far fewer than expected have lost coverage
More Health/Employee Benefits NewsLife Insurance News
- Jackson Announces New Annuity Offering for AARP Members
- Open Enrollment Starts November 1: Tampa Broker Ryan Michalek Urges Families and the Self-Employed to Check 2027 Costs Before They Auto-Renew
- AM Best Affirms Credit Ratings of Insignia Life S.A. de C.V.
- FINANCIAL FRAUD
- Security Benefit Announces Planned Dividend Rate Reset for Series B Preferred Stock
More Life Insurance News