ICU Information Network

Many of us may not be surprised about the relationship between the desperate state of the economy and influx in fraudulent insurance claims.   Throughout the country there has been a sense of fear and uncertainty about the future of personal finance and job security.  This threat has been causing many to react indifferent and often resort to criminal activities to provide themselves with a false sense of financial stability.  With the insurance industry compiling thousands of different companies and having trillions of dollars infiltrating in premium payments, it makes the industry a prime candidate for crime.  (www.fbi.gov)

In 2008, there was a Pennsylvania couple charged with fraud after they submitted claims for more than 11 accidents.  They reported claims for damage and medical bills for allegedly crashing into various stationary items such as parked cars, trees and utility poles.  In addition, they submitted claims for medical appointments that they were not present for and both received several prescriptions for pain medications.  (www.post-gazette.com)

The issue of insurance fraud in this country should be of concern for everyone.  Statistics say that one in five US adults believe that it is acceptable to defraud insurance companies.  (Four Faces of Insurance Fraud, Coalition Against Insurance Fraud, 2008).  It is estimated that insurance fraud, not including health insurance, is approximately costing the American public over $40 billion a year.   This can translate into increased premium rates between $400 and $700 for the average household.  (www.about.com)  We all have a civic duty to be aware and fight against this problem.