How serious is fraud?
Insurance fraud is one of the most costly white-collar crimes in America, second only to tax evasion. It affects every citizen of our state in an immediate and substantial way. According to the National Insurance Crime Bureau (NICB), while shoplifting costs the retail industry approximately $13 billion each year, insurance fraud is estimated to cost $100 billion. In both instances, the crimes translate into higher costs for everyone. Insurance researchers estimate that every U.S. household pays $200 to $300 a year in higher premiums in order to offset fraudulent claims.
