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Insurance fraud
Insurance Fraud
When people think "insurance fraud" they imagine people causing fake accidents, or filing death claims for people still alive. But what about inflating the costs of an item stolen from your home? Or registering your car in the neighboring town because to get lower rates? These are examples of "soft fraud," which cost Americans billions of dollars a year in premium hikes. Meanwhile, the insurance industry -- poorly regulated in many states -- cheats the public again and again.
Public Opinion
Insurance companies have teamed up with law enforcement to start cracking down on instances of soft insurance fraud. Recent polls suggest that over 25% of people believe it is acceptable to inflate insurance claims, and a third of the respondents said that it was alright to pump up the claim to cover the deductible that is supposed to be paid out-of-pocket...
Fraud by the Public
Why the Public Does or Does Not Tolerate Fraud
Public opinion survey by the Coalition Against Insurance fraud finds different levels of tolerance and rationale for soft fraud.
Study examines why people decide that committing soft fraud is socially acceptable, and ways in which the insurance industry is trying to deal with it.
State Policing of the Insurance Fraud
Most of the responsibility for prosecuting insurance fraud rests with state agencies. A study by the Coalition Against Insurance Fraud provides an overview of growing state efforts to crack down on fraud, resulting in twice as many cases.
Insurance experts wary of fraud after Isabel
Experts in the industry note that insurance fraud sharply increases after crises like Hurricane Isabel, and estimates that insurance fraud costs every insured person $300 a year.
Arizona to start issuing citations for soft fraud
Estimating that 11 to 30 cents of every dollar of insurance claims are lost to soft fraud, Arizona has begun citing violators, hoping it will change attitudes about this "victimless crime."
Fraud by Insurance Providers
Life Insurance Fraud on the Rise
But it is respected life insurance companies and brokers who are engaged in the fraud. Read about how these frauds work.
Auto Insurer Ripped Off Arizonans
The auto insurance industry has been regularly found to have ripped off consumers. In this case, State Farm withheld payments due to its customers.
Other Cases of Consumers Being Ripped Off by Insurers
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