RICHMOND, Va. – Attempted insurance fraud exceeded $9.8 million in the Commonwealth in 2016, according to the Virginia State Police Insurance Fraud Program.
“Insurance fraud occurs when someone makes money or attempts to make money from insurance transactions through deception, lying, cheating or stealing for profit,” State Police said.
According to police, there were 1,513 notices of suspected insurance fraud in Virginia in 2016.
“It’s not just the insurance company that’s affected,” said First Sgt. Steve Hall, IFP coordinator. “Consumers ultimately pick up the tab for insurance fraud losses.”
Police say it is estimated that families can pay up to $1,000 per year in increased insurance premiums and other goods and services due to insurance fraud.
“Monetary losses are only part of the problem,” Hall said. “Schemes like staged accidents can put people at risk of injury or worse. Insurance fraud isn’t a victimless crime.”
View the full Insurance Fraud Program 2016 Annual Report at StampOutFraud.com.