Insurance fraud costs 308.6 billion USD per year in the United States

A report published by the Coalition Against Insurance Fraud estimates that, each year, insurance fraud costs 308.6 billion USD in the US. In 1995, this amount was estimated at 80 billion USD.

It should be noted that the present report concerns all insurance classes of business, as opposed to the 1995 report which only covered the non-life activity.

This increase is mainly attributable to the appearance of new forms of fraudulent acts, notably cyber insurance fraud, and to the inclusion of inflation in the study.