With Memorial Day on the way, we can be reminded that insurance fraud affects everyone, including veterans.
Military veterans and retirees reported $ 66 million in fraudulent losses in 2020, according to the Federal Trade Commission (FTC). Fraud is the second most expensive civil servant crime in America. These crimes add up to billions of dollars in fraudulent insurance claims each year. Even if you have not suffered a direct loss, you are still a victim of insurance fraud. Not only does fraud cause higher insurance premiums, but it also raises taxes and inflates the prices of consumer goods.
The National Insurance Crime Bureau (NICB) urges veterans to protect themselves against fraud. To prevent becoming a victim, feel the signs of the following system.
STAGEDA AUTO Accidents
Sometimes car accidents are not really accidents at all. They are staged, intentional crashes that are designed to make it look like your fault when in fact you are the victim.
While insurers pay out about a billion dollars a year to cover losses, sometimes these payments end up in the pockets of unscrupulous contractors.
The NICB warns and educates consumers about unethical and illegal practices among some unscrupulous towing and storage operators and workshops around the country.
AUTO GLASS FRAUD  There have been dubious methods in the vehicle repair and replacement industry where they advertise that a windshield replacement is "free". Unfortunately, what they are asking you to do may be part of our insurance fraud. These too good to be true offers increase your car insurance fees and increase the total cost of repairing car glass.
WORK COMPENSATION SLIP & FALL
This is how a typical slip and fall scenario plays out: a small shop owner is alone at work when a customer arrives and walks in the aisles and looks at goods. A moment later, the customer starts calling for help. The store owner is responsible for finding the person on the floor, groaning and groaning from an injury they claim was caused when they slipped on something on the floor.
Here are more resources for veterans to learn about and fight fraud:
Anyone with information on insurance fraud or vehicle theft can report it anonymously by calling 800.TEL.NICB (800.835.6422) free of charge or sending a form to NICB website.
Content with permission from the National Insurance Crime Bureau.
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