Live Insurance News

Insurance fraud suspected as false BMV calls emerge in Indiana

June 11, 2013June 10, 2013 H. Cutner

Warnings are being issued to residents of the state that the calls are not from the bureau. The BMV in Indiana has issued a warning to the residents of the state regarding an issue that could have to do with insurance fraud phone calls that are being received in the area. The bureau of motor vehicles has announced that there have been some suspicious phone calls. Some motorists in the area have been at risk of insurance fraud as a company that is claiming to be the Indiana Bureau of…

Insurance fraud lawsuit filed by Allstate against providers

May 20, 2013May 25, 2013 Julie Campbell

The massive insurer has sued five medical professional companies and six physicians in the U.S. Allstate has just filed an insurance fraud lawsuit worth $3.8 million in order to recover the funds from five medical professional corporations and six physicians. This is the third lawsuit of this nature that the insurer has filed within this year alone. Overall, there have been 47 insurance fraud lawsuits filed by Allstate in the state of New York since 2003. In total, the insurer has sought over $235 million in damages throughout those years.…

Insurance fraud news made when two men in Spain cut off their hands to collect

April 29, 2013May 1, 2013 Julie Campbell

The scammers were nearly successful except that they did the damage too neatly and cleanly. Two men in Spain who were hoping to collect up to $3.1 million in insurance fraud, cut off their own hands in order to be able to make an dismemberment claim, but were caught because their amputations were performed too well. The men acted in two completely separate and unrelated incidents but each had a similar plan. Unfortunately, this type of instance of insurance fraud is growing in the country, as Spain continues to be…

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…