Staged Accidents On Rise
As a blogger for Insurance School Florida, I observe that Florida is in the insurance news a lot recently . In Tallahassee , a man was arrested for insurance fraud for setting fire to his Yacht named "Shameless." This guy tells it like it is . What's his wife's name? "Trophy?" Did he name his first born , "Tax Deduction"?
This coming on the heels of a report that shows that a report shows that Florida is the number one state for highway staged accidents . This is where several automobiles working together force an innocent to hit them. The car will be full of passengers and each will claim Twenty thousands dollars worth of injuries and just one accident can net the criminals between 80 and 100 thousand dollars . These crooks are great actors to repeatedly pull this off . It's a surprise that Florida has better actors than California, because they are only # three on this list .
The good news this week is that insurance companies are hiring or planning to hire this year . A poll revealed that 74 % of top insurance carriers plan to hire this year . This comes after the April Job Report which showed that a couple hundred thousand jobs were added last month. That's the largest number in four years. The report also reveals that confidence in the economy is much higher and people who have been out of work but gave up looking are now beginning to look for work again .
Florida has always been a high-risk Einsurance market because of the property damage of Hurricanes . The industry was hit hard five years ago , and it has since raised its premiums . But the Industry claims that it is losing money every year on these policies even though there have been no hurricanes . How do you lose $700 million dollars when not one claim was paid out ? Imagine a casino saying it lost money even through they never lost a hand . I'm sure there are a million complexities here, but it just doesn't jibe with common sense .
It just goes to show that Insurance and the State of Florida like to wrestle . It's always an interesting match.
Rick Sabian
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