News and Events
September 14, 2009
The Crime YOU Pay For
Hello,
Welcome to Insurance Networking Systems,
we are the in-house insurance agency for Next Generation Realty. We are an independent insurance agency, which
represents over (9) different companies for auto and home insurance. “Your Protection & Peace Of Mind Is Our
Only Business”…this is not just our motto, but it’s the way we do business with
our clients…we’re not like your typical insurance agency….we’re not going to
tell you what you want to hear, but rather what you NEED to hear.
Call us today at 243-1223 or email me
at joe@insnetw.com to get your FREE no obligation quote and
start SAVING up to $223, $393, $571 or more a year.
Each and every month we’ll bring you news and tips to make your life easier, safer and happier. So enjoy!
~ Joe Mauro
The Crime YOU Pay For!
Would you be shocked to learn that the cost of
insurance fraud is about $219 million?
That’s a lot of money. But wait,
there’s more … that’s $219 million … PER DAY!
Hello? Are you there? Should I call the paramedics?
According to the Coalition Against Insurance Fraud, the annual cost of insurance fraud is about
80 b-i-l-l-i-o-n
d-o-l-l-a-r-s. Here’s how big
that number is … $80,000,000,000.00.
Holy cow!
Just how much money is that?
With $80 billion you could … buy three million cars …
or launch 62 space shuttle missions … or fund all cancer research in
Not only are trusting citizens ripped off in insurance
scams, but those $80 billion are passed on to all consumers as higher insurance
prices … averaging about $950 per family per year according to the Coalition.
What Is Insurance Fraud?
Insurance fraud covers a wide range of activity. There are professional criminals who stage
accidents and orchestrate other insurance scams. There are doctors who perform unnecessary procedures
to pad their billing – or they simply bill the insurance system without doing
anything at all. There are everyday
consumers who inflate their claims or lie about their risks to get lower
prices. And there are many other flavors
of insurance fraud. No matter the
situation, one thing is certain … YOU pay for it all.
Being in the insurance business, I have a pretty good
idea about the extent of insurance fraud.
But while researching the topic, I discovered a troubling survey.
In February 2006, a company called Accenture released
the results of a survey it performed. In
part, here’s what they found:
24% of the people
surveyed feel it’s OK to overstate the value of a claim,
And 11% feel it’s
OK to submit claims for damages that didn’t even occur – whether for items not
actually lost or damaged, or for injuries not actually experienced.
Folks,
that’s stealing. That’s insurance fraud,
and it’s punishable by jail time. When
asked why they think people commit insurance fraud:
- 24% said because
people feel they pay too much for insurance,
- And 49% said
because people feel they can get away with it!
Frankly,
these answers shocked me. They must have
surveyed convicted criminals or something because I can’t believe that many
“everyday people” would be so willingly dishonest.
Regardless of my astonishment, it is what it is. And it costs each and every one of us
plenty. So, what can we do about it?
What to Do About Insurance Fraud
Simple. Report
it.
When you were 8 years old, “don’t be a tattle-tale”
was pretty good advice. But now it’s
time to let go of childish peer pressure and bring criminals to justice. When you know someone is committing insurance
fraud, simply imagine them reaching into your wallet or pocketbook and stealing
your hard-earned dollars right in front of your eyes – because that’s exactly
what they’re doing. The insurance
companies aren’t paying for insurance fraud.
You are.
Who do you call?
Call the insurance company involved.
Call the insurance department. Or
call us. We’ll report it for you.
If you’re curious about this monumental problem, there’s a ton of information on the Coalition Against Insurance Fraud’s website at www.insurancefraud.org.
Check it out.
