An insurance fraud eternal curse for the industry, consumers
Given that the insurance industry to the creation, fraud has been a perennial problem, an inherent risk that will probably never completely eliminated. Carriers have long warned against fraud that causes end-of increasing premiums to offset losses, but at a time when markets and consumers will harden before with fewer options and higher rates, these warnings have greater resonance.
This is not to say that cases of insurance fraud without diminishing once the markets tighten. According to the National Insurance Crime Bureau (NICB), a non-profit organization, 1000-Carrier damage, insurance fraud is perennially the second most common white-collar crime behind tax evasion and utilities costs of around U.S. $ 30 billion of euros in damage claims once a year. It is divided and where $ 200 to $ 300 in fees extra bonus per household.
The city NICB injury, car repair, owner of the house and claim Workers’ compensation fraud most often four in 2000. In addition, reports that 10 percent of all accidents and damage claims are fraudulent.
The Coalition Against Insurance Fraud, another nonprofit organization, offers an estimate even higher, even if that costs in connection with life insurance and Specialty Insurance, as well as accidents and equipment Linesman: $ 80 billion, or about $ 950 per family each year. The organization also notes that Germany, fraud convictions have doubled over the past five years. Cases of fraud State Bureau of Investigation led to 2123 convictions for offences during the year 2000, according to the website of the coalition of more than two times higher than the 961 convictions reported in 1995.
The coalition of the web page a list of several factors contribute to the prevalence of assurance’s fraud, including the following:
Some insurers are themselves, if the fee suspicious, conservation, it would be more costly to fight in court than pay.
Immigrants are often light targets for thieves of data, sell a bad life, automobile and other reports of these groups.
The crime of insurance fraud are generally limited prosecutors’ priority lists, usually focus on drugs and crime of crimes of violence.
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