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December 02, 2004
S.C. Legislature to Discuss Insurance Fraud
During the past five years, insurance fraud complaints have grown by 61 percent in South Carolina, while the average U.S. family pays an extra $1,030 in insurance premiums each year to cover the cost of medical, auto, and life insurance fraud.
A proposal introduced put forward last year in the South Carolina legislature would have created a new civil fraud division in the Insurance Department, in addition to increasing the financial penalties and prison time for fraud.
Posted by Tom Troceen