Victims of Insurance Fraud

 The great irony is that while insurance fraud is widely perceived as a victimless crime, it is far from victimless. The average burglary results in the theft of about $1,000 in property. The average arson results in damage of more than $100,000. While everybody believes that burglary is a serious crime that must be prevented and prosecuted, the same cannot be said for the perception of insurance-related fraud cases. While the typical burglary may have one victim, the typical insurance fraud case leaves us all as victims. It is estimated that more than 20 percent of the premiums we all pay for insurance in this country goes to fraudulent claims. In some areas of the country, the numbers are even higher. So all of us pay for insurance fraud whenever we pay our insurance premiums. We are all victims of insurance fraud.

Jack Morgan, SIU, 2012