Report: Auto Policy Fibs Cost Insurers $13.7 Billion
NU Online News Service, May 6, 12:15 p.m. EDT?Motorist fibbing, fraud and omitted data on policies create rating errors that cost auto insurers $13.7 billion a year, according to a firm that helps carriers identify premium leakage.
The estimate came from Quality Planning Corp. in San Francisco, which said its information was based on premium audit reviews of over 13 million private passenger auto policies from 10 carriers.
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