History
In 1993, insurance fraud investigators staged several bus crashes in New Jersey. The only passengers in the busses were fraud investigators. After the crash, they received over 100 claims from people who jumped on the bus after it crashed or simply drove by the scene and wanted to claim insurance money saying they were injured.
In response to this problem, seventeen organizations formed The Coalition Against Insurance Fraud, contributing $500,000 to finance anti-fraud efforts. At the time, The Coalition estimated that auto fraud cost over $8 billion a year in overpaid claims.
Since then, The Coalition has grown to include over 90 members, including Geico, National Consumers League, First Acceptance Corp., Healthcare Insight, Property Casualty Insurers Assoc. of America, SAS Institute, Thomson Reuters, Nationwide, and the Virginia State Police.
Read more about this topic: Coalition Against Insurance Fraud
Famous quotes containing the word history:
“We aspire to be something more than stupid and timid chattels, pretending to read history and our Bibles, but desecrating every house and every day we breathe in.”
—Henry David Thoreau (1817–1862)
“The best history is but like the art of Rembrandt; it casts a vivid light on certain selected causes, on those which were best and greatest; it leaves all the rest in shadow and unseen.”
—Walter Bagehot (1826–1877)
“The history of mankind interests us only as it exhibits a steady gain of truth and right, in the incessant conflict which it records between the material and the moral nature.”
—Ralph Waldo Emerson (1803–1882)