The Ohio Department of Insurance director, Judith L. French, has reported that there is a new trend in Ohio where individuals are committing insurance fraud after auto accidents or property damage.
This fraudulent activity, known as the "past posting" scheme, involves individuals attempting to obtain insurance coverage after an incident or falsifying documents to make it seem like they had insurance at the time of the incident.
French has warned that insurance fraud is illegal and can result in financial penalties and imprisonment. Additionally, it increases the cost of insurance for Ohioans.
The Coalition Against Insurance Fraud has estimated that insurance fraud has a significant economic impact, costing U.S. consumers and businesses approximately $308.6 billion annually, or about $932 per year for every American.
To combat this issue, the Ohio Department of Insurance is actively monitoring the state’s insurance marketplace for instances of fraud. From July 1, 2021, to June 30, 2022, they received over 7,433 allegations of insurance fraud and insurance agent misconduct.