Insurance Fraud Lawyers
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What Is Insurance Fraud?
In general, nearly any fraud that involves an insurance company can be considered insurance fraud. Common insurance fraud activities include:
- Exaggerated estimates of damage
- Under-reporting important information
- Making false claims.
By some estimates, insurance fraud costs the insurance industry upwards of $80 billion a year, which is then inevitably passed on to consumers. Thus, it is in the best interest of both the insurance companies and individuals who need insurance of any kind to be aware of insurance fraud.
What Types of Activities Are Considered Insurance Fraud?
Insurance fraud covers many different types of fraud. A few of the more common types of insurance fraud include:
- Automobile Accidents: Staging accidents, exaggerating damage, making repairs that are unrelated to the accident or are simply unnecessary.
- Arson: Burning down a house or company simply to collect insurance proceeds
- Health Care: Exaggerating injuries or using another person's health insurance
- Workers' Compensation: False claims by employees, or denial of Workers' Compensation benefits by employers
What If I Am a Victim of Insurance Fraud?
Insured people are not the only ones that commit insurance fraud. It is possible for a criminal to indirectly commit insurance fraud by conning the insured, thus resulting in the insurance company to have to pay a claim to the insured. Moreover, if the insurance company refuses to compensate the insured party who was defrauded, they may be acting in bad faith and subject to fines and other liability.
Should I Talk to an Attorney If I Am Accused of Insurance Fraud?
Insurance companies do not take fraudulent claims lightly, and they generally have the resources to pursue a fraud claim to the end. Insurance fraud can be considered a very serious crime because of the amount of money at stake. If you are accused of or have been a victim of insurance fraud, you should consider consulting a criminal defense attorney to learn more about your rights, defenses, and the what to expect while dealing with the legal system.
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Last Modified: 07-28-2014 12:51 PM PDT
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