Insurance Fraud
Many insurers seem resigned to accepting a certain level of fraud, despite the fact that an estimated 10-15% of annual premiums go towards the cost.
Within the EU the cost of fraud to insurance firms has been estimated at €8bn in fraudulent payouts and $30bn for casualty and property fraud within the US. Today, so many people believe that it is acceptable to defraud insurers that some insurers believe that fraud is an insoluble problem and anti-fraud initiatives should not be a priority.
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