ICBC releases strangest insurance fraud cases of 2014

insurance fraud

The auto insurer had recommended that charges be laid against 100 people, last year, for a range of scams. The ICBC has now released a list of the oddest insurance fraud cases that its investigators were able to detect in 2014, which included everything from airbag evidence, failed impersonations, and even a conspiracy involving time travel. The Insurance Corporation of British Columbia has estimated that between 10 and 15 percent of its claims aren’t truthful. The data from the ICBC has stated that it feels that between 10 and 15…

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Top 2014 cases of insurance fraud identified

insurance fraud

The MPI has now released its list of the largest errors and attempted fraudulent claims from January through December. A new list called the “top five frauds” has now been released by Manitoba Public Insurance (MPI), which shows the leading instances of insurance fraud that occurred within this Canadian province. While interesting and amusing to some, it also places the spotlight on an ongoing problem in the insurance industry. According to the MPI’s data, its own special investigations unit was able to discover approximately $7.5 million in insurance fraud in…

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FTC issues warning about health insurance scams

Small Business health insurance

States are promoting their insurance exchanges, but consumers could be at risk of exploitation Many states in the U.S. are beginning to promote their health insurance exchange ahead of a new open enrollment period, but consumers are being warned that they could be taken advantage of by scams. The Federal Trade Commission has issued a warning about insurance scams that seek to prey on those that are shopping for policies through state-based exchange marketplaces. These exchanges will begin selling coverage in November, and those that are not careful about how…

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Insurance fraud complaints are increasing in South Carolina

fraudulent insurance claims jail scam

The state has now reached an all time high, according to a report that was recently released. Complaints have been rising in South Carolina with regards to insurance fraud, to the point that they are now reaching the highest point that they have ever been, with over 1,200 having been filed last year. This, according to a report that was recently released by Attorney General Alan Wilson. The Insurance Fraud Division of the office of the Attorney General put out an annual report that underscored the fact that attorneys had…

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Insurance fraud costs South Africa’s industry $390 million

California Insurance company Fraud scam

Every year, insurers are paying for this trend and that cost is being passed down to the consumer. South Africa’s short term coverage industry is paying an estimated $389.6 million every year (4 billion South African rand) in order to compensate for the insurance fraud that it is experiencing in that country. There have been a growing number of cases of fraudulent claims over the last few years. According to Santam Ltd., a Cape Town based short term insurer, this year, alone, there have already been 79 cases of commercial…

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