Some risks are healthy, and everyone should take them. For example, when you risk missing out on something popular so that you can achieve something better. Or if you take a chance at pouring your heart out to someone you love and not hear, “I love you too.” But some risks, like trying your hand at fraud so you can get rich quickly, are not worth it. This article talks about a temptation many policyholders face – double-dipping car insurance accident claims. Although there are no official statistics to tell…
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What You Need To Know About Car Insurance Fraud
While you may typically think of car insurance as a way to protect you in case of an accident, others may look at car insurance as a way to make money off of others. Car insurance fraud occurs when someone purposely tries to gain money or benefits that they know they are not eligible to receive. Even if you do not participate in car insurance fraud, you can still be a victim of someone who does. By understanding these facts about car insurance fraud, you will be able to protect…
Read MoreAllstate AI technology helps spot and stop fraud
The insurance company is using artificial intelligence to reduce its payments to fraudulent claims. New Allstate AI technology is being used to help slash the number of times fraudsters get away with making claims. Insurance fraud has become an $80 billion industry in the United States, forcing premiums skyward. Fraudulent claims in the U.S. are currently estimated to be worth more than $80 billion every year. Legitimate customers are required to cover the cost of the payments that scammers are receiving through higher premiums. Among the reasons that insurance fraud…
Read MoreInsurance giants Allstate and State Farm file fraudulent billing suits against healthcare providers
The two carriers have each filed separate lawsuits against medical doctors and their clinics. Two U.S. insurance giants have each filed a lawsuit against medical doctors as well as the pain management clinics of those healthcare providers. The doctors and clinics have been accused of submitting bills to the insurers for unnecessary medical procedures conducted on victims of vehicle crashes. The lawsuits are against both the clinics and the doctors who own them and provide healthcare there. One of the two insurance giants, Allstate Insurance, filed a lawsuit in the…
Read MoreGeorgia insurance commissioner indicted in alleged $2 million fraud case
The U.S. attorney’s office described the case and the allegations against Jim Beck. Earlier this week, the United States attorney’s office laid out what it called a $2 million fraud case which involves Georgia Insurance Commissioner Jim Beck. The commissioner’s attorney entered into negotiations regarding when and how Beck would turn himself in. The Georgia insurance commissioner is the target of a 38 count indictment. It accuses Beck of widespread fraud regarding work he did for the Georgia Underwriting Association (G.U.A.). The alleged fraudulent activities all occurred before Beck was…
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