Insurance Fraud Might be worth it

Insurance fraud is a very serious matter that has been plaguing the industry for years. Recently, a man in Erie, Pennsylvania received jail time for causing car accidents in order to receive insurance payments. When faced with difficult life situations people choose desperate means in order to alleviate their pain and suffering. Or people are just plain greedy and looking for an unethical way to make cash.

Well everyone suffers from fraudulent claims.

What if something went wrong in the Pennsylvania man’s fake accidents and someone was seriously injured or worse, died? Fraudulent claims result in unnecessary property damage and potential personal injury. Exaggerating accident injuries is also committing insurance fraud.

Insurance companies take care of covered losses for their insureds. The purpose of insurance is to spread the risk so that one group does not have to bear all of the burden.  Fradulent claims upset this balance and hurts our ability to assist individuals, businesses, and families. Loss limits are set and when they are exceeded insurance companies are forced to raise the premiums YOU pay. 

Insurance Fraud costs every American’s over 80 billion dollars per year.  These costs are passed along to the consumer.  If you have any knowledge of insurance fraud or suspect insurance fraud is taking place you should contact the N.J. Office of the Insurance Fraud Prosecutor at (877)55-FRAUD.

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