Insurance Fraud — FBI

insurance fraud

a basic overview

Reading: How do you report insurance fraud

The insurance industry consists of more than 7,000 companies that collect more than $1 billion in premiums each year. The massive size of the industry contributes significantly to the cost of insurance fraud by providing more opportunities and greater incentives to commit illegal activities.

costs of fraud

The total cost of insurance fraud (not health insurance) is estimated to be more than $40 billion per year. That means insurance fraud costs the average American. family between $400 and $700 per year in the form of increased premiums.

common schemes

premium distraction


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