North Carolina Insurance Commissioner Mike Causey today announced the arrests of Ryan Neal Frye and Kaci Leigh Ferrell, both of 937 Patriots Pointe, Hillsborough. Both were charged with felony insurance fraud.
On June 21, special agents with the N.C. Department of Insurance’s Criminal Investigations Division allege that Ryan Frye was involved in a motor vehicle accident while operating a vehicle that did not have insurance coverage. Minutes after the accident occurred, Kaci Ferrell, a licensed insurance agent, added Frye’s vehicle to her insurance policy. This newly endorsed policy was presented to the other driver and to law enforcement as if it were in effect at the time of the accident.
Frye and Ferrell were arrested on a criminal summons on Aug. 7. Their first court appearance will be Aug. 28 in Orange County District Court.
“Insurance fraud hits consumers in the wallet,” Commissioner Causey said. “Approximately 20 cents of every insurance premium dollar go to covering the cost of fraud. I’m fighting this by aggressively pursuing and prosecuting insurance fraud in North Carolina.”
If you suspect insurance fraud or other white-collar crimes, please report it. You may anonymously report fraud by calling the N.C. Department of Insurance Criminal Investigations Division at 919-807-6840 or toll-free at 888-680-7684.
Information is also available at www.ncdoi.gov.