Insurance companies are rallying together on the heels of a devastating earthquake that rocked the New Zealand city of Christchurch. They are expected to pay millions in claims. Chris Ryan, the chief executive for the Insurance Council of New Zealand, says that it is difficult to estimate the total cost of the quake as the buildings that collapsed were damaged by a previous earthquake in September of last year. A powerful earthquake struck Christchurch during its lunchtime rush. The magnitude 6.3 quake toppled office building, flattened homes and at least…
Read MoreTag: property damage
Mayor of Roselle’s third term campaign clouded by claims of insurance fraud
Garrett Smith, mayor of Roselle in Union County NJ, announced Tuesday that he would be seeking a third term. Reasons cited by Smith include his belief in what they are doing and the feelings that his campaign is “stronger than ever.” He found significant support from the residents of Roselle. On Wednesday, Mayor Smith was indicted for fleeing the scene, insurance fraud and the filing of a false police report. If found guilty, Smith could face up to ten years in prison as well as being unable to hold public…
Read MoreThe business of fraudulent insurance claims
Today, there are some that make a living specializing only in insurance fraud by submitting doctored up insurance claims. The false claims received may include life insurance, third-party policy, personal damage and car theft. In many cases, the claim amounts asked for are considerably higher than the injuries, damage or loss that occurred – this can raise a red flag to potential wrong doing. Life insurance fraud is when someone makes false claims about faking an injury or death. The false documentation used is usually police reports, medical cards, marriage…
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