Jun 5

Workers’ Compensation — Who Is Cheating the System?

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When one workers’ compensation claimant pops up on surveillance as manipulating the system and wrongfully getting workers compensation benefits, the whole world knows about it. However, the fraud that goes on by the workers’ compensation carriers and some of the employers can be much worse.

According to CBS News, AIG — American International Group Inc. — and its affiliates was caught misreporting billions (that’s with a “b”) of dollars in workers’ compensation premiums to reduce its taxes and assessment. Today, AIG have agreed to pay $146.5 million to all 50 U.S. states and the District of Columbia to settle a complaint. Florida Insurance Commissioner Kevin McCarty led the charge and accused AIG of misreporting $21.1 billion in workers compensation premium as other lines of insurance in past years. To settle the claim, AIG agreed to pay a $100 million national penalty and $46.5 million in additional premium taxes and assessments.

So, next time you hear that someone is trying to manipulate the workers’ compensation system, think about AIG and those other carriers that may not have been caught yet. We are talking BILLIONS of dollars!

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Attorney Matthew Noyes
represents workers who are injured in Florida workers’ compensation injuries. His Tampa Bay law firm – Perenich Caulfield Avril Noyes – has been caring for clients since 1955. As one of the oldest personal injury law firms in Pinellas County, we are here to help. For a free case consultation, call Attorney Noyes at 727-796-8282 or simply click here to schedule an office conference.

  1. david098 14 Oct 2012 | reply

    I work as a paralegal specializing in Workers Compensation for a Plaintiffs firm. These carriers do terrible things to injured workers, they make them suffer and beat them down just so they don’t have to pay out minimal benefits.
    http://www.compmanwc.com/

  2. Paralegal 29 Sep 2012 | reply

    Don’t forget AIG cried to the government and received a very large bailout as well. And now they are caught cheating the system ? I work as a paralegal specializing in Workers Compensation for a Plaintiffs firm. These carriers do terrible things to injured workers, they make them suffer and beat them down just so they don’t have to pay out minimal benefits. When is our government going to wake up and revamp these laws to favor the very people that keep food on their table and replenish their bank accounts. Who ever is supporting these carriers should loose their jobs and be placed in the very predicament that they have placed these injured workers. They would be up for a rude awakening.

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