Insurance Fraud: A $300 Billion Crime
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Featuring
[Moderator] Jerry Theodorou, Policy Director, Finance, Insurance and Trade, R Street Institute
Michelle Rafeld, Executive Director, Coalition Against Insurance Fraud
About the Event
Insurance fraud is the second-largest category of white-collar crime, surpassed in size only by tax evasion. A blight on our economy, insurance fraud impacts every property and casualty insurance line. Life and health insurance are also targets for insurance fraudsters. Insurance fraud ranges from individuals cheating on insurance applications to save a few hundred dollars to sophisticated, multi-billion dollar rackets involving dozens of complicit attorneys, doctors, and adjusters. The total cost of insurance fraud is a staggering $300 billion a year. If insurance fraud were to be eradicated, insurance premiums for individuals and businesses would be reduced by approximately 10 percent.
Join the R Street Institute for a special virtual event to gain an understanding of the nature and magnitude of different types of insurance fraud that have long plagued the industry. Michelle Rafeld, Executive Director of the Coalition Against Insurance Fraud, and R Street’s Jerry Theodorou, Policy Director of Finance, Insurance, and Trade, will have a discussion that sheds light on the many types of insurance fraud, new trends, and how it can be mitigated. Please join us and pass this invitation along to others who may be interested.