Well, they look at it when they suspect you've fibbed on your reported  

Have you ever directly been involved in this specific issue?  Have you ever been under oath testifying with respect to a pilot misrepresenting qualifications?  Have you ever met with and developed coverage plans with insurance carriers?  Have you ever been a Director of Operations, Chief Pilot or held an administrative position in air carrier management which required you to be involved in these processes?  Have you ever been involved in an investigation process?  If you have, I would be curious as to why you hold the opinion you do.

Insurance fraud is a felony in most states; and a pilot certificate is a federal authorization.  If a pilot has misrepresented [deliberately] his/her qualifications and a mishap resulting in injury or loss of life, the pilot may very well be incarcerated.

Think professionally.