Episode 48

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Published on:

2nd Aug 2023

Behind the Premiums: Unearthing the Hidden Costs of Insurance Scams

Insurance fraud, a hidden but significant menace, greatly impacts the U.S. economy and your wallet. As fraud cases rise, they inflict severe losses on insurers, inevitably leading to higher premiums for honest policyholders like you. To tackle this issue effectively, a strategic collaboration between government agencies, law enforcement, and insurance companies is essential for protecting our economy and the citizens.

In today's episode of The Protectors Podcast, our hosts Mike and Mark are joined by Steve Bodge, a seasoned expert from Nationwide Insurance with over three decades of experience. Steve peels back the curtain on the world of insurance fraud, illuminating different types of scams, such as staged accidents and fraudulent medical claims. He will also share the broader implications of these deceptive practices on insurers, policyholders, and our economy. Whether you're an insurance professional, a vigilant citizen, or simply curious about financial crimes, this episode will offer crucial insights and emphasize the role we all play in curbing insurance fraud.

GUEST CONTACT INFO:

Steve Bodge Business Cell: 304-482-2223

Steve Bodge Email: bodges@nationwide.com

Steve Bodge Linkedin: https://www.linkedin.com/in/steve-bodge-cfe-cfci-ciafp-cifi-scla-5a402017

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IAFCI CONTACT INFO:

IAFCI Website: https://iafci.org/

Phone: 916-939-5000

Advertising Opportunities and Guest Appearance: IAFCIProtectorspodcast@gmail.com

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About the Podcast

IAFCI Presents... The Protectors

Presented by the International Association of Financial Crimes Investigators

From ATM Skimming to Human Trafficking, The Protectors Podcast takes you inside the minds of criminals from around the world with leading experts and the investigators who put them behind bars. Presented by the International Association of Financial Crimes Investigators (IAFCI), and hosted by International President Mark Solomon and Chairman of the Board Michael Carroll. The Protectors is a bi-weekly podcast that aims to educate consumers on the fraud, financial, and cybercriminal activities that are happening every second of every day. Don’t become the next victim. The host's and guest's opinions are their own and do not reflect those of management, employers, or sponsors. Listeners are encouraged to contact local or state law enforcement if they suspect being a victim of a crime.

About your hosts

Michael Carroll

Michael Carroll is a retired Postal Inspector after serving 29 years with the US Postal Inspection Service. Mike spent most of his career investigating financial crimes including identity theft, mail theft, credit card fraud, and scams involving the US Mail. Mike is proud to say he has returned to the Inspection Service as a Contractor/Analyst with the Chicago Division. Mike has been a long-time member of the IAFCI and held past positions as Illinois Chapter President, International Secretary, and International Vice President. Mike is currently the International President and co-chair of the Identity Crimes/Scams and Elder Exploitation and Webinar committee. Mike is also an instructor on Financial Crimes Investigations and Elder Exploitation at the Homeland Training Security Institute at College of DuPage. Mike is also a Certified Financial Crimes Investigator (CFCI)

Mark SOLOMON

Mark Solomon is a Vice President for Fraud Investigations at a Financial Institution in Connecticut. Previously, he spent 26 years in law enforcement with 19 years in the Police Department’s Criminal Investigation Division, with 11 of those years assigned to a Federal Law Enforcement Task Force working large scale fraud, financial and cybercrime investigations.

Mark is a recognized expert in financial and cyber-crime investigations and has spoken throughout the U.S. and Internationally on skimming, access device fraud, identity theft, elder exploitation and other financially related crimes.

In 2010, Mark was selected as the MasterCard/IAFCI International “Law Enforcement Officer of the Year” recipient. In 2014 Mark was a co-recipient of the Department of Homeland Security's (DHS) Luminary Award for Intelligence Sharing. In 2015, Mark received the Dr. John Clarke Law Enforcement of the Year Award for the Greenwich Police Department and in 2016 was awarded the Financial Crime Investigator of the Year Award from the Henry C. Lee College at the University of New Haven.
In 2011, Mark became the IAFCI CT Chapter President and held the position until 2019. Currently, Mark is the IAFCI International 1st Vice President and is a Certified Cyber Crimes Investigator (CCCI) as well as a certified instructor for the CT Municipal Police Training Council (MPTC) for identity theft and financial crimes Investigations.
Mark is also an adjunct professor with (2) Universities in Connecticut and a volunteer with the AARP’s Fraud Watch Network group.
Mark received his Bachelor’s and Master’s Degrees in the Administration of Justice from Salve Regina University in Newport, RI.