Friday, September 01, 2006
Insurance Fraud Bill Gaining Momentum
The message is everywhere in Pennsylvania on public service billboards and TV ads: Committing insurance fraud can mean jail time.
As reported by Ottaway News Service, house lawmakers are pushing new legislation to make tougher penalties for insurance fraud, including revoking driving privileges, and to expand the legal definition of what fraud is. A five-bill package was debated Tuesday at a joint hearing of the House Insurance and Judiciary Committees.
State officials told lawmakers that it’s difficult to gauge the scope of a practice that can range from individuals padding insurance claims, people “staging accidents” and organized enterprises engaged in medical bill ripoffs. Some 1,600 cases of suspected fraud were reported to law enforcement officials last year, according to state Insurance Department figures which show a steady increase in reports in recent years.
The Insurance Information Institute estimates that property insurance fraud cost insurers about nationally $30 billion in 2004.
“So obviously it is not a good idea to commit home insurance fraud but why not do the best you can to save money on your house insurance when it is so easy to do so online?” says Jack Huntington, Analyst. To get free quotes on your house insurance just click here: house insurance quotes.
Bill Bushnell
Administrator
P.S. Try getting a quote though the link to Kanetix above and let us know how you did by commenting to this blog.
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