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 don’t know when our name came into being or how some distant ancestor acquired it. We don’t understand our name at all, we don’t know its history and yet we bear it with exalted fidelity, we merge with it, we like it, we are ridiculously proud of it as if we had thought it up ourselves in a moment of brilliant inspiration.”
—Milan Kundera (b. 1929)
“Revolutions are the periods of history when individuals count most.”
—Norman Mailer (b. 1923)
“I believe that history might be, and ought to be, taught in a new fashion so as to make the meaning of it as a process of evolution intelligible to the young.”
—Thomas Henry Huxley (1825–95)