Tag: fraudulent insurance claims

Auto insurance fraud impacted by catalyst of staged collisions

H. Cutner
fraudulent insurance claims jail scam

Organized scam rings are already costing the industry millions and are placing innocent people in harm’s way. According to investigators, auto insurance fraud is becoming more frequent as well as more sophisticated, as they are now involving organized groups as opposed to individuals or a small handful of people. Today’s insurance scams involve faked crashes with involvement of medical clinics and other professionals. This allows the collisions to occur, the claims to be made, and phony treatments to be administered in order to generate lucrative payouts for those involved. The…

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Auto insurance fraud receives more attention from state agency

Logan B.
Auto Insurance Fraud

Insurance Department begins to increase its efforts to combat insurance fraud throughout California The California Department of Insurance has begun to focus more heavily on fighting auto insurance fraud in the Los Angeles area. The agency has been working to track down and eliminate fraud in this area for some time, but has only found modest success. Those participating in fraud have, thus far, managed to find ways to sidestep regulations and continue exploiting consumers and insurance companies alike. Recently, the agency has found more success in its fight against…

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Insurance fraud costs South Africa’s industry $390 million

G. Turner
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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Insurance fraud prevention efforts are underway in Oklahoma

H. Cutner
California Insurance company Fraud scam

The state and the NICB are working together to stop false claims as filings are received following tornadoes. The National Insurance Crime Bureau (NICB) and the Oklahoma Insurance Department (OID) are working together in an effort to combat insurance fraud by educating residents at a time when approximately 23,000 claims have already been filed in the state in the wake of a stream of catastrophic tornadoes and other severe weather events in May 2013. The storms – which primarily occurred on May 19 and 20 – have generated auto and…

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Insurance fraud study shows nearly a quarter of Americans approve of it

Julie Campbell
insurance agency overbilling fraud

The research showed that 24 percent of people in the United States think that the behavior is acceptable. The number of Americans who believe that insurance fraud is an acceptable behavior remains very high, as nearly a quarter of the people in the country feel that it is acceptable, according to a study. This same research indicated that the approval of the behavior has actually fallen over the years. Though the findings of the survey showed that 24 percent of Americans are alright with insurance fraud, this is actually a…

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