The setting: Waters off the coast of Florida. The action: A high-speed boat chase across choppy seas. The players: Homeland Security agents, the Coast Guard, smugglers, illegal aliens, and an insurance agent.

In an alarming new trend financed heavily by our industry, illegal alien smugglers are insuring their high-performance boats before embarking on their ventures, then collecting big payouts. Insurers have identified this trend through information from U.S. Customs, Border Patrol, Coast Guard, and law enforcement. Insurance companies’ special investigative units are sharing this information with their respective agents and underwriters to avoid this adverse selection among their boat policies.

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