April 5, 2010
Fraud Fight
Thanks for your interest in the Fraud Fight blog. The Fraud Fight forum will look at issues and case studies as they specifically relate to the problem of insurance fraud.
Fraud Fight will highlight different types of insurance fraud, the societal issues that each type of fraud creates, and the investigative and other means of addressing the problem on both a broad scale as well as an individual, case by case basis.
Insurance fraud touches everyone’s lives. The Coalition Against Insurance Fraud, www.insurancefraud.org , estimates that insurance fraud costs American citizens approximately $80 billion dollars per year, or approximately $950.00 per family.
The cost of insurance fraud extends beyond the family who must pay higher premiums. It increases financial pressure on businesses, big and small, by forcing them to reallocate resources from areas that would have otherwise allowed them to grow or directly benefit their employees.
Investigators and adjusters are increasingly overwhelmed by high caseloads and the lack of time to properly look into possibly suspicious files. Some feel that the files we do investigative are just “a drop in the bucket.”
Fraud Fight takes the position that with each person we educate, slowly, one by one, we can change the stigma of insurance fraud from what is sometimes perceived as a victimless crime to a major issue that drains our society of precious resources.
Thanks again for your time. Please contact Scott Finger if there is an insurance fraud issue that you would like to see highlighted here, and check back occasionally for new posts.