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Old 05-14-2008, 11:24 AM   #1
Join Date: Nov 2007
Posts: 14,869
Default CNBC Report - Insurance Fraud to dispose of SUVs

There was a report on CNBC earlier this week that reported that after years of declines, arson fires are increasing. The report mentioned several cases where home owners fearing foreclosure burn their house down hoping to collect on the insurance policy.

A State Farm representative reported that the same type of problem is happening with their automotive policies - people are destroying their gas guzzling trucks and SUVs hoping to collect the insurance money. There are reports of customers that have driven their vehicle into a lake and reported it stolen, or hauled their vehicle out to the desert and set it on fire.

It appears that a recessionary economy and high fuel prices will be keeping the insurance fraud investigators busy.
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