Your Texas preferred provider of Investigative Services
LOCATION:
815 Brazos Street, STE 500
Austin, TX 78701
LICENSE: A16406
OFFICIAL TEXAS STATE FRAUD WARNING: Any person who knowingly presents a false or fraudulent claim for the payment of a loss is guilty of a crime and may be subject to fines and confinement in state prison.
Insurance Fraud Statistics for the State of Texas
| Description | Count |
| Fraud Reports Received | 14,465 |
| Cases opened for investigation | 126 |
| Cases referred for prosecution | 59 (with 67 suspects and 76 offenses) |
| Estimated amount of fraud identified in referred cases | $8.66M |
| Indictments or information issued resulting from investigations | 79 |
| Judgments from cases referred | 71 |
| Fines assessed by courts on Fraud Unit cases | $237,850 |
| Restitution assessed by courts on Fraud Unit cases | $1.7M |
| Subpoenas Issued | 254 |
The Insurance Information Institute reports that property and casualty fraud cost some $30 billion each year between 2013-2017
This metric varies from year to year, of course, but the nature of fraud statistics is such that ascertaining the actual cost of insurance fraud is a very difficult task. Schemes traverse a wide array of vehicles well beyond payments of erroneous claims. The ultimate costs sprawl to cost not only customers but also modernity and innovation in the insurance industry.