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!
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.