Error opening template: advertisement/zones/468x60_generic.tplError opening template: advertisement/zones/728x90_leaderboard.tplError opening template: advertisement/zones/728x90_bottom_ad.tplError opening template: advertisement/zones/300x250_right_ros_up.tplError opening template: advertisement/zones/300x250_right_ros_down.tplError opening template: advertisement/zones/160x600_left_nav.tplError opening template: advertisement/zones/160x600_right_nav.tpl What is Insurance Fraud?

What is Insurance Fraud?

Insurance fraud is not a highly visible crime, but an extremely costly one. In fact, insurance fraud is the second most costly white-collar crime in America (tax evasion being the first).

Insurance fraud costs consumers approximately $150 billion a year in damages, leaving the average family paying a minimum of $1,000 a year in higher insurance premiums and costs of goods and medical services.

Despite this, research conducted on consumers’ attitude towards insurance fraud found 2 out of every 5 Americans didn’t see anything wrong with making a fraudulent insurance claim to receive money they weren’t entitled to. As well as, majority of people believed insurance fraud crimes were victimless crime. But, in reality we, the average consumer, senior citizen, business owner, are all the victims.

We will be penalized with higher insurance premiums, goods, and services to compensate for the hundreds of millions of dollars lost a year by insurance fraud schemes, such as the Worker’s Compensation fraud , Medicare fraud , and Auto fraud.

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Identity theft comes in many forms.

A person\92s identity can be 'borrowed' for the purpose of creating fictional credit cards or a person\92s entire identity can be usurped to the point where they can have difficulty proving that they really are who they claim to be.

Up to 18% of identity theft victims take as long as four years to realize that their identity has been stolen.

There are many ways to protect your personal identity and many steps you can take to prevent your identity from being stolen:

*Never give out unnecessary personal information
*Never provide bank details or social security numbers over the Internet
*Always remain aware of who is standing behind you when you type in your personal credit codes at ATM machines and at supermarket checkout swipe machines.