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The Real Impacts of Insurance Fraud
by Judith L. French, Director
Insurance fraud costs U.S. consumers and businesses a staggering $308.6 billion annually, equating to approximately $932 per person and more than $70,000 over a lifetime, according to the Coalition Against Insurance Fraud.
The Ohio Department of Insurance has made combating insurance fraud one of its top consumer protection priorities, recognizing its significant financial impact on all Ohioans through increased premiums.
Fraud and Enforcement Division staff collaborate with insurance companies, law enforcement agencies, government entities, and prosecutors to identify, investigate, and hold accountable those engaged in fraudulent insurance activities. Over the last year alone, the division received more than 7,800 allegations of insurance fraud and professional misconduct, leading to 1,589 investigations and administrative and/or criminal action against 155 individuals.
Recent cases highlight our commitment. A Cleveland resident was sentenced to five years in prison and ordered to pay restitution for filing 24 fraudulent insurance claims totaling more than $229,000. Additionally, a former bail bond agent in the Columbus area was convicted of felony theft involving $6,600. The individual failed to post a bail bond despite accepting payment, resulting in three years of community control and restitution.
Insurance fraud is often misunderstood as a victimless crime, but its real impacts reveal the financial harm it inflicts. Our efforts, from investigating cases to raising public awareness about the consequences of committing insurance fraud and the importance of reporting it, aim to protect Ohioans.
Ohioans who suspect insurance fraud are urged to contact the Ohio Department of Insurance at 800-686-1527, odi.fraud@insurance.ohio.gov, or insurance.ohio.gov. Public involvement is vital in the fight against insurance fraud.
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Why Are My Home and Auto Insurance Premiums Increasing?
Homeowners and auto insurance premiums are rising nationwide, affecting consumers across the country, including in Ohio. These increases are driven by various factors such as inflation, higher repair and replacement costs, and the growing frequency and severity of natural disasters.
The National Association of Insurance Commissioners, of which the Ohio Department of Insurance is a member, explains why this is happening and what Ohioans can do to lower their costs.
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Insurance Coverage and Burst Pipe Water Damage
Freezing temperatures not only make us reach for warmer clothing, but they can also lead to plumbing problems.
Homeowners insurance policies often cover the resulting water damage if frozen pipes burst, if the homeowner has taken reasonable steps to maintain the pipes and keep them from freezing. Here are tips for water pipe protection during freezing weather.
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Medicare Open Enrollment Deadline Dec. 7
The deadline for Ohioans on Medicare to select Medicare health insurance coverage for 2025 is Dec. 7.
Ohioans on Medicare have the option to select Original Medicare, often paired with a Medicare Part D prescription drug plan, or a Medicare Advantage managed care plan. Medicare Advantage plans provide comprehensive health insurance benefits typically including prescription drug coverage. Medicare plan information is located at medicare.gov.
Medicare experts from the Ohio Senior Health Insurance Information Program (OSHIIP) can help. OSHIIP, part of the Ohio Department of Insurance, provides free and unbiased Medicare insight, plan comparison, financial assistance identification, and enrollment facilitation.
OSHIIP staff is available via Medicare Checkup events, individual virtual counseling appointments, oshiipmail@insurance.ohio.gov, and 800-686-1578. Ohioans on Medicare can also call 800-MEDICARE (800-633-4227) for Medicare assistance.
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New Insuring Ohio Futures Website Launched
A redesigned Insuring Ohio Futures website – the destination for exploring the many rewarding careers in Ohio’s insurance industry – has been launched. The site highlights a variety of career opportunities, salary insights, and resources for those interested in building a future in insurance.
Developed by the Ohio Insurance Institute with input from industry experts, educators, and workforce partners, the website is designed to be accessible and informative to those just starting their careers, as well as to those looking to make a career change.
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Insurance Educator of the Year Nomination Deadline Jan. 10
Do you know an exceptional high school teacher who brings insurance and risk management to life in the classroom? The Insurance Educator of the Year award celebrates Ohio educators who excel in delivering dynamic and engaging lessons on vital insurance concepts, helping students build valuable real-world knowledge.
The competition is open to all Ohio high school teachers, and anyone can submit a nomination. Eligible instruction can take place in courses such as financial literacy, business, economics, mathematics, family and consumer sciences, or driver education. Nominations are due by Jan. 10.
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NAIC Officers Elected for 2025
Members of the National Association of Insurance Commissioners (NAIC), which includes the Ohio Department of Insurance, elected the organizations' 2025 officers at the NAIC Fall National Meeting. The newly elected officers will assume their duties on Jan. 1.
NAIC members also elected the 2025 zone officers during the meeting. The NAIC is organized into four geographical zones, and within each zone, three officers are elected annually by the respective zone members.
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The 988 Lifeline provides 24/7, free, and confidential support for people in distress, prevention and crisis resources for you or your loved ones, and best practices for professionals in the United States. Text 988 or CHAT WITH THE 988 LIFELINE.
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