The number of suspected insurance fraud notifications received by the Virginia State Police are continuing to increase, according to the Insurance Fraud Program’s 2009 Annual Report
Last year, the Insurance Fraud Program received a record 2,078 notifications of suspected insurance fraud, an 8 percent increase over 2008. This increase in suspected fraud may be a result of the economy as citizens look to get out from under mortgage and car payments they can no longer afford, police said.
Property-related fraud reported to the jumped by 13.4 percent, and there was an 11.8 percent jump in the number of notifications involving injury and casualty fraud.
Insurance fraud is estimated to add as much as $1,000 per Virginia household to the cost of goods and between $200 and $1,000 per year in additional premiums.
__
Source: Virginia State Police
Was this article valuable?
Here are more articles you may enjoy.
Lawyer Who Filed Viral Suit Against JPMorgan Seeks to Exit Case 
Florida Court Says 2020 Law Gives ‘Very Broad’ Liability Immunity to Rideshare Firms 
Roof Costs Soar Even as Claims Decline: Verisk 
NC Jury Award for Workers Injured in Wall Collapse May be Largest in State History 
