Live Insurance News

Insurance fraud by fake agents targeted by firms

April 22, 2013April 30, 2013

The industry in India is fed up with the number of pretenders who are giving legitimate companies a bad name. One of the most frustrating struggles faced by firms in India is the insurance fraud occurring as a result of fake agents pretending that they are selling real policies to unsuspecting consumers. The industry is now fighting back by becoming very active in battling this issue alongside the authorities. The Insurance Regulatory and Development Authority (IRDA) has been issuing occasional recommendations regarding what can be done to help to battle…

Insurance fraud rapidly growing among mortgage policies

April 11, 2013April 30, 2013

The rate of fraudulent cases has been rising very quickly, to the point of doubling in five years. The latest report based on Experian data has revealed that the rate of mortgage and insurance fraud has risen to 38 cases out of every 10,000 applications as of last year in the United Kingdom. This is over double the rate of the fraudulent claims that was recorded in 2007. The insurance fraud has been rapidly increasing since the start of the economic downturn and the credit crunch that was associated with…

Insurance news from New Jersey includes public adjuster charged with fraud

April 8, 2013April 6, 2013 H. Cutner

The charges were laid in the midst of a larger probe of the sector within the state. Prosecutors in New Jersey have just revealed the latest insurance news, which includes their performance of an investigation into public adjustors, as a part of a probe that seeks evidence of fraud. As a part of these headlines, a man from Monmouth County has received fraud charges. The charges in this insurance news include an attempt to use a phony claim to receive payments from the New Jersey Manufacturers Insurance Co. The public…

Insurance fraud accusation issued against Timbaland

April 2, 2013April 1, 2013 Julie Campbell

A missing watch insurance claim is leading the insurer of the musician to call it an attempted scam. Timbaland’s insurer is currently working to shut down a claim that the rapper and record producer has made regarding a missing watch, stating that the filing is nothing more than a case of insurance fraud. The musician is seeking a payout for a watch which was covered under his policy with the insurer. However, that insurer said that the payout of $1.8 million that is being sought is being labeled as insurance…

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

March 23, 2013March 21, 2013 Julie Campbell

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…