Skip to comments.Insurance Scammers Featured on ABC News (Video)
Posted on 04/26/2012 7:44:15 AM PDT by KeyLargo
Insurance Scammers Featured on ABC News
MMA Fighter, Prison Guard Cases Emphasize Billion-Dollar Problem
By Christina Bramlet, PropertyCasualty360.com
April 25, 2012
An ever-evolving multitude of insurance scams continue to plague the industry, ultimately costing both insurers, policyholders and taxpayers hundreds of millions of dollars.
P&C insurers especially face a host of challenges in combating fraud, such as poor conviction rates and inadequate resources. Even so, through decisive action and collaboration between claims investigators and law enforcement, noteworthy gains have been realized, made evident recently by some high-profile PIP fraud stings in New York and Florida.
Further mitigating fraud and, by extension, its impact on insurers' profit margins, involves not only continuing the push for legislative intervention but also utilizing sophisticated strategies and technology, including data mining techniques.
Another part of the fraud-fighting equation is addressing the public's general lack of empathy and information about this burgeoning epidemic. Organizations such as the Coalition Against Insurance Fraud (CAIF) and the National Insurance Crime Bureau (NICB) have organized campaigns and outlets to spread public awareness. However, the absence of a cohesive PR strategy by the industry, coupled with scant media coverage, will continue to hinder overall efforts if not addressed.
Well, as in life, we must celebrate the victories, both small and large. Some familiar schemes and perpetrators command starring roles in this recent ABC News report, which emphasizes the impact of workers' compensation fraud on taxpayers
Newest Government Magic Trick: Disability Fraud Holds Down Unemployment Rate; Disability Hits Record $200B
Jobless disability claims soar to record $200B as of January
By JANET WHITMAN
Disability Claims Up As Unemployment Benefits Run Out
By Doug Powers February 19, 2012 11:16 PM
The Social Security Disability Insurance fund will run out of reserves around 2018. As of now over 10 million people draw checks from it, and that number is growing. What could possibly go wrong?
My sister has such a guy as her backyard neighbor.A postal worker with a “back injury”.She hates him,as do other neighbors (he’s a real piece of filth in *many* ways) so she filmed him,from her upstairs window,doing some kind of strenuous building project in his back yard...STRONG evidence in the film of a completely healthy,nimble and strong guy.She called the Post Office which sent out an investigator to her house to see the film.Upon leaving he told her that the film wasn’t enough to kick him off disability.He told her this with a sense of exasperation,strongly implying that once a postal worker is on disability it’s basically impossible to get them off.