The U.S. insurance industry is a large business consisting of thousands of companies and collecting nearly $1 trillion in premiums each year. According to the FBI’s Financial Crimes Report, the FBI is focusing a majority of its resources relating to insurance fraud on the following areas: (1) Hurricane Katrina Insurance Fraud (numerous frauds in the wake of the hurricane); (2) Insurance-Related Corporate Fraud; Premium Diversion/Unauthorized Entities (e.g., insurance agents and brokers pocketing policyholder premiums); (3) Viatical Settlement Fraud (e.g., making misrepresentations on insurance policy applications to hide the fact that the party applying for a policy has already been diagnosed with a terminal condition); and (4) Workers Compensation Fraud.

For further information, contact your Blue Earth County Criminal Defense Attorney.