Washington State Insurance Commissioner Mike Kreidler wants to create a new fraud unit to investigate staged traffic accidents. Those can involve a network of lawyers, doctors, chiropractors and physical therapists.
Kreidler says he’ll request about $2 million in funding from the Legislature to create a five-person insurance fraud unit in his department. He says 41 other states have such fraud units.
The National Insurance Crime Bureau estimates that Washington insurers paid more than $404 million in bogus claims in 2004. That figure is based on what the industry believes is a standard 10 percent fraud rate in claims.
Topics Fraud Washington
Was this article valuable?
Here are more articles you may enjoy.
‘Massive Legal Siege’ Against Social Media Companies Looms 
Chubb Books Record P/C Underwriting Income, Combined Ratio in Q3 
New York Hospital Insurer Files for Bankruptcy, Citing Child Sex Abuse Claims 
Suspects in Louvre Heist in Custody After Week-Long Manhunt From This Issue
