How Security Cameras Can Protect a Business from Fraudulent Insurance Claims

Posted on November 11th, 2020

How Security Cameras Can Protect a Business from Fraudulent Insurance Claims

How Security Cameras Can Protect a Business from Fraudulent Insurance Claims

When you decide to open a small business, there will always be a chance you will have to deal with personal injury litigation at some point in your business career. When these incidents happen on your property, they aren't always as straightforward and clear cut as we would like them to be. For this reason, you want to have safeguards in place. Security cameras can help protect your business from fraudulent claims, and here's how.

Fraudulent Slip and Falls

It has been reported that 36-53% of all businesses are involved in at least one litigation dispute each year. Security cameras are an effective way to judge the incident in the claim without any bias. You will quickly find that your security camera system pays for itself over time and can free you from the stress involved with fraudulent lawsuits.

For example, if a customer slips and falls in your establishment, you want to make sure they get the help they need, but you also want to do everything in your power to protect your business. A lot of slip and fall incidents actually turn out to be fraudulent, and without the aid of security cameras, they might just get away with it.

The security camera footage you get can discredit a fraudulent claim and save your business a ton of money when they cannot successfully pursue what is considered a clearly fraudulent lawsuit.

Worker's Comp Scams

In addition to catching fraudulent slip and fall claims, security footage can also help a business avoid workers' comp claims. This kind of fraudulent claim can cost employers billions of dollars each year because of rising premiums and lawsuits.

Security cameras can not only catch the incident and record it but also act as a deterrent and discourage fraudulent behavior from happening in the first place.

Don't Forget About Timing

If someone claims they were hurt on your property, then you need to make sure to retain the video footage of the incident until the statute of limitations expires for the personal injury lawsuit. This can range from between one to six years, depending on the guidelines in your state.

To ensure that you don't lose any valuable footage, you will want to work closely with your security company to help determine just how much storage you will need to fulfill your video retention needs.

They can also help walk you through the process and make sure you have the right number of cameras strategically placed around the business and property to ensure proper coverage.

Once you have the security system in place, you should then review your insurance policies to ensure all the right protections are in place in the case of this type of incident.

To get started with your business security system and make sure your property is adequately covered, don't hesitate to contact the experts at Supercircuits today. They can help you determine which security features would be best for your property and will ensure that everything is up and running as soon as possible.

 

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