The price tag of fraudulent property and casualty insurance claims nationally is about 10 percent of insured losses,” said Ron Williams, executive director of the Arizona Insurance Council. That was one figure that resulted from the largest gathering of Arizona law enforcement, government agencies and insurance representatives.
The Arizona Insurance Fraud and Vehicle Theft Summit, co-sponsored by the National Insurance Crime Bureau (NICB) and the Arizona Insurance Council (AIC) representing property and casualty insurers, took place in Phoenix on Tuesday, Oct. 21, as part of a summit to discuss insurance fraud issues, prevention tactics and public policy solutions.
More than 180 people involved in fighting insurance fraud crimes came together to coordinate efforts to reduce insurance fraud in the areas of medical provider and bodily injury; auto towing, collision repairs and staged accidents; and auto thefts and owner give-ups.
“Insurance fraud is a crime and it is not victimless,” said Ron Williams, executive director of the Arizona Insurance Council. He noted that in Arizona, fraudulent property and casualty insurance claims amount to approximately $400 million each year ,which adds more than $300 to the individual policyholder’s premiums annually.
Representatives from state, county and local police authorities, Arizona’s Attorney General’s Office, Departments of Insurance and Public Safety, and the Arizona Automobile Theft Authority highlighted a shortage of manpower and resources to fight insurance fraud. Solutions discussed included more funding for investigators and prosecutors and better technology to enable fraud fighters to investigate and prosecute the felony crimes.
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