Consumer information
You pay the price
Premiums stay high. Insurance prices stay higher because insurance companies must pass the large costs of insurance fraud to policyholders.
People lose their savings. Trusting consumers are bilked out of thousands of dollars, often their entire life savings, by insurance investment schemes. Seniors are especially vulnerable.
Local businesses lose money. Fraud increases the costs for business and makes it more expensive to provide health coverage and other insurance benefits for employees.
Consumer goods and services cost more. Prices of goods at your department or grocery store keep rising when businesses pass higher costs of their health and commercial insurance onto customers.
Schemes kill & injure. People die from insurance schemes such as staged auto accidents and arson — including children and entire families. People also are murdered for life insurance money. Doctors perform dangerous and invasive operations on healthy patients to inflate their insurance billings.
Workers lose jobs. People lose jobs and careers when insurance companies go bankrupt after being looted by company insiders. Dishonest businesses also lie to illegally lower their workers compensation premiums. The swindlers thus can underbid honest competitors for contracts or prices of goods and services. Victimized competitors may have to lay off workers, freeze wages or even move out of state.
Victims feel violated. People feel shame, despair and a sense of violation that can last a lifetime. Fraud schemers also expose their own families to embarrassment in their communities. Jail time and fines also can tear apart families of convicted schemers.
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