Life insurance fraud sends man to jail for murdering his son

Disability Insurance Fraud

A New York man who killed his son to be able to collect benefits payouts has been sentenced to prison. A man named Karl Karlsen, who, in November, pled guilty to a charge of second degree murder of his son in order to commit life insurance fraud, has now been sentenced to 15 years to life in prison. The man was able to collect the payout of $700,000 on his son’s policies, as he was the beneficiary. Karlsen, 53 years old, admitted to shifting a truck off a truck under…

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Auto insurance fraud spiking rates in New York

homeowners insurance fraud

Insurance fraud continues to complicate New York auto insurance Insurance fraud is a serious problem throughout the U.S., and one that continues to defy any measures that have been taken to mitigate it. In New York, the issue is beginning to cause significant financial strain for consumers, especially in regards to auto insurance. According to Brooklyn Executive Assistant District Attorney Jeff Ferguson, auto insurance fraud is causing the cost of this coverage to grow at an alarming rate. If measure are not taken quickly, auto insurance may soon become too…

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New York insurance officials seeks to decrease system-wide fraud

New York auto insurance

The state’s Department of Financial Services (DFS) is attempting to beat the plague of no-fault system fraud. The department is making reforms at the state level to help to eliminate the tremendous number of loopholes that are making the no-fault New York insurance system for auto coverage a highly abused program. These new regulations are meant to take aim at the issue of doctors who are receiving healthcare payments for services that are not actually being provided, as well as technical problems that are frequently used to stop a decision…

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New York legislators introduce three new laws to combat auto insurance fraud

In the continuing fight against auto insurance fraud, New York legislators have passed three new bills that will impose serious penalties on those committing crimes. The bills were passed by the state’s Senate late last week and will be heading to the Assembly for further consideration. Lawmakers are considering auto insurance fraud one of the state’s most serious issues. According to the Senate, fraud costs the state more than $1 billion every year and deals untold damage to the auto insurance industry. These damages translate into higher premiums for consumers…

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Allstate files $5 million lawsuit in New York as a result of fraud

Allstate Insurance is looking to recover some $5 million in New York that has been lost due to fraud. The company has filed a lawsuit targeting 21 individuals, 17 of which are being accused of misrepresenting public entities. The insurer claims that these people have continuously submitted fraudulent claims on behalf of corporation that were owned and operated by laypersons, as opposed to licensed professionals. The insurer notes that fraud is one of the primary reasons rates have been rising in the state in recent years. Allstate has filed some…

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