Noting its “great strides” in fighting insurance fraud, state agencies across Virginia will continue that teamwork this week, dubbed “Insurance Fraud Awareness Week.”
Gov. Robert F. McDonnell has recognized the event from May 9-15 in the commonwealth, to recognize the effects of insurance fraud on citizens and to highlight the efforts of the Virginia State Police Insurance Fraud Program (IFP) and its partners.
Col. W. Steven Flaherty
The IFP noted in a statement insurance fraud, second behind tax evasion as the most common and costly white-collar crime nationwide, costs the economy almost $80 billion per year, according to the Coalition Against Insurance Fraud.
In Virginia, citizens could pay between $200 and $1,000 annually in additional insurance premiums and up to $1,000 more each year for the costs of goods and services as a result of the negative economic impact of fraudulent insurance claims, officials said.
“Virginia has made great strides in the statewide fight against insurance fraud,” said Col. W. Steven Flaherty, Virginia State Police superintendent, in a statement. “This has been possible due to the outstanding support of the insurance industry, the cooperation of other law enforcement agencies, and the general public’s willingness to become involved.”
Since its creation as a unit of the Virginia State Police in 1999, the IFP has seen more than 13,000 suspected cases of insurance fraud, resulting in more than 1,500 arrests and $13 million in court-ordered restitution. The dollar amount of reported, suspected false insurance claims has surpassed $86 million over that time period, according to the IFP.
Through the annual Insurance Fraud Awareness Week, the focus is on raising community awareness of the crime, creating more widespread public knowledge of the IFP and its purpose, and educating Virginia citizens in the prevention and reporting of fraudulent activity.
Through its “Stamp Out Fraud,” campaign – to coincide with the unit’s website – the IFP uses its online reporting mechanism and a toll-free hotline to collect reports of fraud in the state. The unit also uses social media, including Facebook and YouTube videos, to spread the word about the impact of fraudulent activity.
Virginia agencies collaborate for ‘Insurance Fraud Awareness Week’ via IFAwebnews .
