Insurance Fraud

Fun is not meant for anytime. Let us concentrate on some serious issue. I am going to provide some data on insurance fraud that I am sure will knock you.

• Insurance fraud is the second largest crime in USA after the Tax evasion.
• Property/casualty insurance fraud cost insurers about $30 billion in 2004.
• Prompted by the incidence of insurance fraud, about 40 states have set up fraud bureaus.
• One in 10 paid BI auto claims in CA had the appearence of fraud. And it was found that between $319 and $432 million in BI payments were attributable to fraud and buildup.

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