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Cracking Down on Insurance Fraud

The Insurance Information Institute estimates that the annual cost of insurance fraud is between $85-$120 billion a year.

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The Insurance Information Institute estimates that the annual cost of insurance fraud is between $85-$120 billion a year. This translates to approximately $5,000 extra per year, per family for the added costs of goods and services to make up for this fraudulent activity. Studies and working experience show that workers’ compensation is one of the sectors that is believed to be most vulnerable to fraud.

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