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Sky High Auto Insurance Costs? May be Bad Ethics

It was in February of this year, that I wrote a blog about an auto insurance fraud ring that involved more than 40 people in the Las Vegas area. At the center of the ring was a family collision and repair business that was profiting from making false repair claims and making hefty profits from what was reported versus what the repairs actually cost to make. At the time, I warned that such an ethical crime was hardly victimless. Though no one was “assaulted,” the net effect of artificially-charged insurance rates, ultimately affect everyone who owns an automobile or commercial vehicle, and they ultimately must pay higher insurance rates. Those responsible for the fraud were sentenced, the business license was pulled and fines and/or jail time was the ultimate result.

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Posted by Chuck Gallagher in Insurance Companies and tagged , , , ,