TEXAS

We Offer a Full Slate of Investigative Services in the State of Texas

LOCATION: 

815 Brazos Street, STE 500

Austin, TX 78701

LICENSE: A16406

OFFICIAL TEXAS STATE FRAUD WARNING: Any person who knowingly presents a false or fraudulent claim for the payment of a loss is guilty of a crime and may be subject to fines and confinement in state prison.

Texas

 

Insurance Fraud Statistics for the State of Texas

Description Count
Fraud Reports Received 14,465
Cases opened for investigation 126
Cases referred for prosecution 59 (with 67 suspects and 76 offenses)
Estimated amount of fraud identified in referred cases $8.66M
Indictments or information issued resulting from investigations 79
Judgments from cases referred 71
Fines assessed by courts on Fraud Unit cases $237,850
Restitution assessed by courts on Fraud Unit cases $1.7M
Subpoenas Issued 254

 

The Insurance Information Institute reports that property and casualty fraud cost some $30 billion each year between 2013-2017

This metric varies from year to year, of course, but the nature of fraud statistics is such that ascertaining the actual cost of insurance fraud is a very difficult task. Schemes traverse a wide array of vehicles well beyond payments of erroneous claims. The ultimate costs sprawl to cost not only customers but also modernity and innovation in the insurance industry.

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