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Insurance Fraud – Everyone Pays

In Florida, Insurance Fraud, Insurance News on June 7, 2013 at 1:32

Last month, a Durham couple was arrested and charged for insurance fraud.  What did they do?  They submitted false vehicle towing invoices.  In Pittsburgh, a mother is charged with arson and insurance fraud.   A Google search of insurance fraud finds more than 40 million references – in a millisecond.

Insurance fraud is not simply a Florida problem – it’s a nationwide epidemic.   One researcher estimates that the cost of all Insurance fraud is more than $96 billion every year, with property insurance fraud coming in at a whopping $20 billion.  This is intolerable – only the taxpayer suffers.

Twenty years ago, Hurricane Andrew caused an estimated $16 million in damages.  Yes, fraud perpetrators can cost more than the real thing.

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