1 In 5 in Study Admit to Considering Insurance Fraud

 Insurance fraud is a pervasive issue in the U.S., with estimates suggesting it could cost the industry more $300 billion annually. But beyond the financial strain on insurers, it impacts consumers directly, leading to higher premiums and a sense of injustice among honest policyholders.

To delve deeper into this phenomenon, Customertimes conducted a survey of 2,000 Americans, shedding light on the prevalence of fraudulent claims and the underlying motivations driving them.

The findings reveal a concerning reality: one in five respondents admitted to at least considering committing insurance fraud, with 10% admitting to following through with their plans. Moreover, a significant portion of the surveyed population knew individuals who had either committed or contemplated insurance fraud.

Read the entire news article.  Insurance News Net, by Doug Bailey, April 30, 2024