People Committed Insurance Fraud
Considering that fires were so common in ancient Rome, it’s no surprise that the people began to invest in fire insurance. Of course, it was a major luxury that only the wealthiest of people could afford. It also meant that the Romans were some of the first people to face instances of insurance fraud.
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People began to invest in their homes and protect the contents with insurance, only for them to mysteriously burn down because people were often given more money for their homes than they were worth. Emperor Augustus combatted this issue by enforcing harsh punishments for anyone found guilty of committing arson.
