Every year, hurricanes, tornadoes, and other catastrophic events leave millions of Americans struggling to recover and rebuild their lives. Unfortunately, these events also provide an opening for dishonest contractors looking to take advantage of homeowners. In 2023, U.S. insurers paid more than $92 billion in catastrophe losses, with upwards of 10 percent or $9.2 billion lost to post-disaster fraud. This fraud not only impacts individuals, but also impacts insurance premiums throughout the industry.
The goal of the Contractor Fraud Awareness Week campaign is to educate homeowners and business owners on the signs of contractor fraud and how to avoid becoming a victim of deceptive contractors after a natural disaster.
This information was brought to you by the National Insurance Crime Bureau (NICB).
Resources:
Erie County Division of Consumer Protection - GENERAL BUSINESS LAW ยง771: New York State Home Improvement Contract Provisions
Federal Trade Commission - How To Avoid a Home Improvement Scam
FEMA - U.S. Department of Homeland Security - Beware of Fraud and Scam Artists
National Insurance Crime Bureau - Contractor Fraud Awareness Week
New York State Department of Financial Services - Beware of Home Repair Scams