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There are lies — and then there are statistics. Sometimes they can be identical. The Insurance Information Institute recently sent me their latest edition of Fact Book 2005. The details are very similar to those in the 2002 edition, just updated a bit. Fraud, they say, is still costing the property/casualty insurance industry $29 billion (in 2003), and the entire insurance industry is shelling out “between $85 and $120 billion a year.”

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