Some people will do anything for money. One dentist in Florida let his brothers chop off his finger with an axe in order to collect money from his homeowner policy. After receiving a $1.3 million settlement for the so-called accident, the dentist purchased a yacht, which he named "Minus One." Another man's hoax was even more transparent. A Boston boat-owner claimed that his 25-foot powerboat was stolen from inside his locked garage-which was only 19 feet long.

While not every insurance swindler goes to this extreme, many think nothing of staging an automobile crash or a slip-and-fall accident on someone's property. Insurance fraud is now the number two crime in the country, second only to tax fraud. If it were a legitimate business, insurance fraud would rank in the top 25 of Fortune 500 companies.

As someone who would never attempt to file a fraudulent insurance claim, you may be tempted to brush aside the issue as one that doesn't concern you. But fraud is a problem that affects all of us by driving up the cost of insurance premiums. Insurance crime costs more than $17 billion every year, in turn consuming about 10% of the dollars Americans pay for insurance.

In response to this growing national dilemma, the insurance industry is taking active measure to put on end to dishonest claims. Organizations such as National Insurance Crime Bureau (NICB) and the Insurance Crime Prevention Institute (ICPI) have been developed to help investigate suspicious claims and educate the public. State legislatures have also cracked down on fraud by passing tougher laws against insurance crime and replacing small fines with felony prosecution and prison time.

The results have been encouraging. Some insurance providers estimate that their successful anti-fraud efforts have saved $15 for every $1 spent on their campaigns. The increased anti-fraud vigilance and more punitive laws have put people such as the Florida dentist and the Boston boat-owner behind bars.

But as helpful as these efforts are, the fight against insurance fraud can only be won if everyone works together. We are committed to taking this responsibility, and we encourage you to join us in putting an end to fraudulent insurance schemes.