For Immediate Release: April 17, 2017
Franklin County Woman Accused of Insurance Fraud
RALEIGH -- Insurance Commissioner Mike Causey today announced the arrest of Rachael Yvette Hicks, 27, of 95 North Ridge Drive, Louisburg; she is charged with one count of insurance fraud.
Department of Insurance criminal investigators accuse Hicks of fraudulently claiming her vehicle was stolen and crashed with Universal Insurance Company on Feb. 25, 2017. Investigators allege Hicks was operating the vehicle at the time of the accident.
Hicks was arrested on March 24 in Franklin County and placed under a $15,000 bond.
"According to the FBI, insurance fraud costs the average family between $400 and $700 per year in the form of increased premiums,” said Causey. “Consumer protection is my number one priority as your Insurance Commissioner and I will continue to fight insurance fraud with your help."
An estimated 10 cents of every dollar paid in premiums goes toward the payment of fraudulent claims. The Department of Insurance employs 20 sworn state law enforcement officers dedicated to investigating and prosecuting claims of insurance and bail bonding fraud. To report suspected fraud, contact the Department of Insurance Criminal Investigations Division at 919-807-6840. Callers may remain anonymous. Information is also available at www.ncdoi.com.