Brilliance in just a few words. As in all professions, those that commit fraud are an extreme minority. They are the proverbial "squeaky wheel" that gets the oil. That being said, the author of this article points out that PIP fraud accounts for less than 1% of all the insurance fraud relating to automobile accidents. Yest companies like United Automobile & State Farm continue to pound the legislature with ridiculous claims that fraud is the industry standard rather than the exception to the rule. Let's not forget that with all the alleged growing fraud, State Farm still posted record profits of $800 Million in 2009 and $1.8 Billion in 2010. Wow, who knew that fraud would increase their year to year profits so much ? I wonder how that happened.
Anyway, here's a link to a fresh little article about the often hidden truths - Click here, read & enjoy
Yes. Some reports say that Claims Of Personal Injury PIP Fraud are overpricing. A clear example would be the record profits of $800 Million in 2009 and $1.8 Billion in 2010.
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