Did You Know...

Posted By: Greg T. | Date Posted: Oct 22, 2016

...that one person's decision to commit insurance fraud affects you?

...that insurance fraud increases insurance premiums?

...that insurance fraud is a felony violation

and is subjected to imprisonment of up to five years and/or a fine of up to $5000

Louisiana Department of Insurance (LDI) defines fraud as the willful abuse of an insurance policy for financial gain. Fraud is intentional and illegal.

LDI states that: Studies indicate 10 percent or more of property/casualty insurance claims are fraudulent. Fraud is the second most costly white-collar crime in America behind tax evasion. Add it all up and insurance fraud costs Americans billions of dollars each year. Not only does fraud cause higher insurance rates, but it also raises our taxes and inflates prices for consumer goods. The Coalition Against Insurance Fraud estimated that insurance fraud costs Americans at least $80 billion annually, nearly $950 a year per family.

If you know or suspect insurance fraud you can report it here at the NACI Public Online Fraud Reporting System: https://eapps.naic.org/ofrs/

• Call the National Insurance Crime Bureau at: 1-800-TEL-NICB (1-800-835-6422)
• Text the keyword “FRAUD” and your tip to TIP411 (847411)
• Call Randy at (225) 620-0546
• Call Chris at (225) 231-8316

You can remain anonymous and the call is free.