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Old 03-27-2009, 03:24 PM   #1
XDCX
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Join Date: Nov 2007
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Default Interesting WSJ article on Insurance Fraud

The Wall Street Journal has an interesting article about the growing problem of insurance fraud where people are burning or dumping their vehicles and claiming an insurance loss. Predictably, the problem is worse in the high unemployment markets like Las Vegas, Michigan and New York.

A detective with the Las Vegas Police Department indicated he occasionally interviews owners who still reek of gasoline or have singed eyebrows or hands.

For those that are unwilling to light the match themselves, apparently the going rate in Las Vegas is $500. For that sum of money your vehicle will be driven into the desert and torched.

I sure would want to be in the GAP Underwriting business if this trend continues.

Here's a link to the WSJ report: http://finance.yahoo.com/insurance/a...ud-on-Roadside
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