Workers’ compensation fraud has been on the rise.
The poor U.S. economy, the mortgage meltdown and governmentcutbacks are all contributing factors. Even rising student debt isplacing pressure on young people. Unfortunately, some see fraud asa solution to their challenges and consider it easy money, unawareof the potential consequences. There are plenty of examples ofsophisticated cases that require careful and persistentdigging.
Insurers write more than $1 trillion in insurance premiumsannually according to the Federal Bureau of Investigation (FBI),providing significant opportunities for fraud to be perpetrated.The FBI estimates the total cost of non-health insurance-relatedfraud to be more than $40 billion per year, costing the averageU.S. family an estimated $400 to $700 per year in increasedpremiums.
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