In a way, I think that the family member who reported the fraud should be rewarded by the insurance company, or the insurance dept. of the state should have some funds to reward those who bring these cases to their attention. This reward may greatly influence people who become aware of fraud to report it, as opposed to simply overlooking it as “another person’s problem”.
I agree the neighbor should be rewarded. I also feel that the insurer or the state insurance department needs to release information to the public, via newspapers, television, radio, stating how much money this one fraud claim – or say – 10 others of the same value – could favorably impact auto rates. It is important to show how much a small fraud like the one in Nevada can affect insurance costs. Insurance is a commodity sale and people will do more to reduce fraud if they know how much reducing it will translate into savings. And, tt shouldn’t be hard to determine the savings, especially since the insurance industry, which should be called to assist the insurance commission, has the best of actuarial science. Just a though…
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In a way, I think that the family member who reported the fraud should be rewarded by the insurance company, or the insurance dept. of the state should have some funds to reward those who bring these cases to their attention. This reward may greatly influence people who become aware of fraud to report it, as opposed to simply overlooking it as “another person’s problem”.
I agree the neighbor should be rewarded. I also feel that the insurer or the state insurance department needs to release information to the public, via newspapers, television, radio, stating how much money this one fraud claim – or say – 10 others of the same value – could favorably impact auto rates. It is important to show how much a small fraud like the one in Nevada can affect insurance costs. Insurance is a commodity sale and people will do more to reduce fraud if they know how much reducing it will translate into savings. And, tt shouldn’t be hard to determine the savings, especially since the insurance industry, which should be called to assist the insurance commission, has the best of actuarial science. Just a though…