Who really pays the bill for insurance Fraud? We all do: insurance companies, policy holders, taxpayers and the general public all end up paying through increased insurance rates, higher taxes, and inflated prices for consumer goods and services.
NICB estimates that property and casualty based insurance fraud cost Americans $30 billion per year. In comparison, Hurricane Andrew’s devastation totaled $17 billion in damages. If you include other insurance lines like health, life and specialty insurance, the total cost of insurance fraud may exceed $120 billion annually. Michigan makes up a large part of this number as the abuse in the auto no-fault insurance (PIP) sector soars and auto theft continues to plague cities like Detroit, Flint and Muskegon. Michigan insurance fraud costs everyone.
Sherlock Investigations assists property and casualty carriers in Michigan by offering, unique, highly effective Michigan PIP claims investigations and casualty claims surveillance. For more information about our solutions, please call. Please visit us on social media via Facebook or LinkedIn.