Louisiana Joins New Anti Fraud Network
Louisiana has now decided to join an anti-fraud network. With that decision, Louisiana will be giving information to a federal network with the goal of making sure that fraud is eliminated. According to the agreement, the Treasury Department's Financial Crimes Enforcement Network and the Louisiana Department of Insurance will be involved in the program.
State Insurance Commissioner Jim Donelon says the major problem in fraud is rampant in about all of the states. He says insurance studies have stated that about 10 percent, maybe more, of property-casualty claims are fake. So, who pays? Everyone pays from the insurance companies, the customers of those companies, and taxpayers.
In billboards that are up across the state, insurance investigators say that every year families end up shelling out about 950 dollars to cover the cost of fraud.
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