Insurance Fraud is one of the largest problems facing the insurance industry today. It is estimated that between 10 per cent and 33 per cent of all insurance claims contain some element or degree of fraud. Each year, fraud costs the insurance industry about$96 billion and in just the Property and Casualty industry alone, insurance fraud costs are more than $23 billion.
There are indications that fraud rings tend to attack insurance companies or programs that lack sufficient safeguards to detect document and deny fraudulent claims.
Despite the seeming vastness of the scope of this problem, the majority of all fraudulent cases are generated by a relatively small percentage of the population. Becoming aware of who these main perpetrators are and how their operations work makes it possible to detect the fraudulent claims. Everyone benefits when insurance fraud is effectively fought such as insurance companies with lower costs, and consumers with lower insurance premiums. An experienced Jacksonville investigator is the tool to bring those benefits about.