Crime Doesn't Pay -- You Do; Insurance Fraud Costs Nevada Families $1,640 Per Year.LAS VEGAS--(BUSINESS WIRE)--July 14, 1998--Insurance fraud costs citizens of Nevada nearly $800 million annually and forces families to pay more than $1,640 in higher insurance premiums and increased costs of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. . Even more alarming is that a growing number of Americans believe that insurance claim padding Bits or characters that fill up unused portions of a data structure, such as a field, packet or frame. Typically, padding is done at the end of the structure to fill it up with data, with the padding usually consisting of 1 bits, blank characters or null characters. See null and bit stuffing. is acceptable. A recent survey conducted by the Insurance Research Council found that 40% of individuals consider padding a claim acceptable, up from 22% in 1993. Everyone pays for insurance fraud. The National Insurance Crime Bureau "NICB" redirects here. NICB may also refer to the National Industrial Conference Board; see The Conference Board. The National Insurance Crime Bureau (NICB) is a North American non-profit membership organization located in Des Plaines, Illinois. estimates that nationally, the average policyholder will pay an extra $200-$300 a year because of insurance fraud. Insurance fraud is one of the most costly white-collar crimes white-collar crime, term coined by Edward Sutherland for nonviolent crimes committed by corporations or individuals such as office workers or sales personnel (see white-collar workers) in the course of their business activities. in America, ranking second only to tax evasion The process whereby a person, through commission of Fraud, unlawfully pays less tax than the law mandates. Tax evasion is a criminal offense under federal and state statutes. A person who is convicted is subject to a prison sentence, a fine, or both. . Investigations show that insurance fraud artists can be members of complex organized fraud rings or even a next-door neighbor looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a second income. The National Insurance Crime Bureau and the Nevada InsuranceCouncil will be hosting a legislative conference to discuss the scope of the Nevada insurance fraud problem and its impact on Nevada consumers on Aug. 5 from 8:30 a.m. to 5 p.m. at the Mirage Hotel. Spokespeople from the Nevada Insurance Council and the National Insurance Crime Bureau are available to discuss insurance fraud in Nevada, as well as the upcoming fraud conference. To schedule an interview call Stephanie Saari at 800/493-6282 or Jana Scholten at 800/447-6282 x 242.
CONTACT: Nevada Insurance Council
Stephanie Saari, 800/493-6282
or
National Insurance Crime Bureau
Jana Scholten, 800/447-6282 x 242
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