The Impact of Insurance Fraud

insurance fraud

Fraud is not only a problem for insurers Insurance fraud is more common than people may think and it is one of the most serious problems facing the insurance industry today. Fraud causes an estimated $115 billion in financial damage in the U.S. alone and this damage is not only felt by insurance companies. Because insurers are pressured to recover from losses, the financial damage caused from fraud often trickles down to policyholders, who must pay for the fraudulent activities of others through increased premiums or fewer benefits being offered…

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