Your Texas preferred provider of Investigative Services
815 Brazos Street, STE 500
Austin, TX 78701
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
|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|
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.