Insurance Fraud Reportedly Increasing in Virginia

The number of suspected insurance fraud notifications received by the Virginia State Police are continuing to increase, according to the Insurance Fraud Program’s 2009 Annual Report

Last year, the Insurance Fraud Program received a record 2,078 notifications of suspected insurance fraud, an 8 percent increase over 2008. This increase in suspected fraud may be a result of the economy as citizens look to get out from under mortgage and car payments they can no longer afford, police said.

Property-related fraud reported to the jumped by 13.4 percent, and there was an 11.8 percent jump in the number of notifications involving injury and casualty fraud.

Insurance fraud is estimated to add as much as $1,000 per Virginia household to the cost of goods and between $200 and $1,000 per year in additional premiums.

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Source: Virginia State Police

Topics Trends Fraud Virginia