While catching up with florist friends at the recent CSFA in Carlsbad, it was
truly humbling to hear how many business owners are just trying to survive in
this economic downturn. It is a daily grind of proprietor concerns: how to make
payroll without robbing Peter to pay Paul; how to keep a handle on the soaring
cost of doing business; and finding ways to retain customers while
simultaneously seeking to grow new business through diversification. All of this
while in a climate where flowers are now perceived among other products and
services as a luxury and not a necessity.
Sadly, data show that this same troubled economic environment can also trigger a
spike in potentially fraudulent claims filed by employees, customers or the
general public at large. According to an article published in the April 2009
issue of Workforce Management magazine, . . . the number of questionable claims
is up during the first quarter of 2009 compared with the first quarter of 2008,
providing a snapshot of what claims analysts call opportunistic frauda down
economy and mounting unemployment level is causing some people to look at
insurance fraud as a possible way to make money by taking advantage of a
situation.
How might your floral business be a target for opportunistic fraud? Here are
2008 to 2009 trend statistics from a May 2009 issue of American Agent & Broker
magazine and possible related scenarios that could occur in your floral
operation.
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