There is growing evidence of increased cases of car owners fraudulently dumping their unwanted vehicles for insurance money, according to research by the Coalition Against Insurance Fraud.

Officials in nearly a dozen state and local jurisdictions around the United States report clear warning signs that so-called owner give-ups are rapidly spreading, CAIF said.

The signs include recent increases in suspected vehicle arsons, rising investigations of suspected give-ups, and in some cases a spike in arrests, the coalition reported.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.