“A little fib here…a slight exaggeration there…” starts the recently released insurance fraud television ad. The 30-second spot, produced by the Virginia State Police (VSP) Insurance Fraud Program (IFP), is currently being seen by Virginia citizens around the commonwealth.
Focusing on one of the prevalent forms of insurance fraud — exaggerated claims — the commercial goes on to state that no one really knows how much insurance fraud exists, but that it costs the U.S. economy at least $85 billion a year. TV viewers are encouraged to help in the fight against fraud and are given a toll-free number and a Web site for reporting suspected insurance fraud. They could also be eligible for a reward of up to $25,000 for information about suspected fraud that leads to an arrest.
The IFP ads will be running on network and cable outlets during prime time news in the Richmond, Roanoke, Tidewater, Tri-Cities and northern Virginia markets. The commercials are scheduled to run through March of this year. The ad can also be seen on line at www.stampoutfraud.com.
When anyone tries to make money from insurance transactions by deception, that is insurance fraud; and according to the Coalition Against Insurance Fraud (www.insurancefraud.org), it’s the second most costly white collar crime behind tax evasion.
In Virginia, it’s projected that fraud adds an additional $200 a year to insurance premiums and costs Virginians more than $1,000 a year in increased costs of goods and services.
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