Insurance Fraud

The insurance industry consists of more than 7,000 companies that collect over $1 trillion in premiums each year. The massive size of the industry contributes significantly to the cost of insurance fraud by providing more opportunities and bigger incentives for committing illegal activities.

Costs of Fraud

The total cost of insurance fraud (non-health insurance) is estimated to be more than $40 billion per year. That means Insurance Fraud costs the average U.S. family between $400 and $700 per year in the form of increased premiums.

Advertisements
Advertisements
California Consumer Fraud Federal Bureau of Investigation (FBI) Health Care Fraud Health Insurance Fraud Insurance Fraud Medicare (CMS) Our Daily News US Department of Justice (DOJ)

Los Angeles Dentist Sentenced to 40 Months in Prison for Role in $3.8 Million Health Care Fraud Scheme

Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Thursday, June 6, 2019 A Los Angeles, California-based dentist was sentenced to 40 months in prison today for his role in a $3.8 million health care fraud scheme in which he billed numerous dental insurance carriers for crowns and fillings that were never provided to […]

Advertisements

Attorney General Becerra Announces Sentencings in $2 Million Mortgage Fraud Scheme in Southern California

Pennsylvania socialite headed to prison for $13 million insurance fraud | Insurance Business

Zurich Life Insurance Company Ltd. and Zurich International Life Limited Enter Agreement With U.S. Regarding Insurance Products | OPA | Department of Justice

A U.S. Recession Is Coming, Big Insurance Companies Say — but Not This Year

Advertisements
Advertisements
Advertisements