What is Insurance Fraud?
In general, as long as the fraud involves an insurance company, it can be considered insurance fraud. Common insurance fraud activities include exaggerated estimates of damage, under-reporting important information, and making false claims. By some estimates, insurance fraud costs the insurance industry upwards of $80 billion a year! 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 them, exaggerating the damage, etc.
- Arson: burning down your house or company for profit
- Fraudulent life insurance claims
- Health Care: exaggerating injuries, using other people's health insurance
- False and/or inflated property loss claims
- Phony Workers' Compensation 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. A con artist can indirectly commit insurance fraud by conning the insured, resulting in the insurance company to have to pay a claim to the insured. If you believe that you are the victim of a con artist, please contact the police. If your insurance company refuses to compensate you in such situations, they may be guilty of acting in bad faith. Should I Get 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 in many of these claims. If you are accused of insurance fraud, consult an experienced attorney to learn more about your rights, defenses, and the complicated legal system. |
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