MADISON, WI (WTAQ) – Experts say insurance fraud is on the rise – and most insurers have become much better at catching it.
It’s a hot topic, after authorities said an Argyle man tried to kill his family and burn down his house to get $156,000 in insurance money and a fresh start in life.
Martha Lester-Mittenzwei of Madison College says insurance fraud is more common due to the shaky economy, and the need for people to look for alternative ways of getting money.
http://liarcatchers.com/insurance_fraud.html
The Wisconsin Radio Network says insurance fraud is the second-most popular white collar crime after tax evasion – and one of every five adults surveyed two years ago said it’s acceptable to defraud insurance companies.
Insurance fraud takes many forms. When gas started hitting $4.00, Lester-Mittenzwei said people came up with schemes to report their vehicles stolen to collect the insurance money. That because they couldn’t sell those gas-guzzlers.
Today, Lester-Mittenzwei says most insurers have special investigating adjusters who take over when fraudulent activity is suspected. She said getting behind on a mortgage is a red flag when checking out a fraud suspect.
