Merged Let's Talk about Insurance Fraud!

[GlennB]

If only someone could figure out how this alleged insurance fraud made any money, as opposed to the billions it has cost.

Fool! They were insured against insurance losses. The NWO order has a special reinsurance division to handle these things. Oooops wait ... how do I delete this message?

 

[ProBonoShill]

I was wondering why this merged with the Insurance Fraud thread. I now see that he went back and edited the bit about insurance fraud into the post. Before it was just the gif and a title.

Oh and maybe dvictr can finally tell us just how much money was made on the fraud and who made it?

Haven't you heard? Apparently Larry Silverstein made out like a bandit.

Redibis will be along any minute to explain the whole thing.

 

[Brainster]

If only someone could figure out how this alleged insurance fraud made any money, as opposed to the billions it has cost.

Box Boy Richard Gage came up with a way, in a speech at Sonoma State University in 2007:

"Now the insurance companies did quite well, and you say, well what about them? They've raised their premiums 2000 percent on buildings and this payout is peanuts compared to those premiums."

(starts about 29:30 into the video).

It's almost needless to say, but insurance premiums didn't increase 2000 percent. According to a report by the NYC comptroller's office, insurance premiums increased by 73% on trophy (high-profile) properties in New York City and by lower amounts on less-significant properties.

 

[Horatius]

If only someone could figure out how this alleged insurance fraud made any money, as opposed to the billions it has cost.

Easy - He made it up on volume!

 

[Newtons Bit]

Box Boy Richard Gage came up with a way, in a speech at Sonoma State University in 2007:


(starts about 29:30 into the video).

It's almost needless to say, but insurance premiums didn't increase 2000 percent. According to a report by the NYC comptroller's office, insurance premiums increased by 73% on trophy (high-profile) properties in New York City and by lower amounts on less-significant properties.

Richard Gage isn't exactly known for telling the truth...

 

[Travis]

So they lost billions so they could then charge more on premiums to everyone else pricing themselves right out of many people's market?