Insurance Fraud: Common Schemes. Non-Health insurance is estimated to be more than $40 billion per year. That means Insurance Fraud costs the average U.S. family between $400 and $700 per year in the form of increased premiums.

False Liability Claims – Types, Consequences, Preventing and Addressing

False liability claims refer to the filing of a fraudulent claim against a person or organization for damages or injuries that did not occur, or for which the claimant is not responsible. Such claims can have serious consequences for both the accused and the legal system. They waste time and resources, and can cause emotional and financial harm to the accused. In this essay, we will discuss the different types of false liability claims, the consequences of filing such claims, and the measures that can be taken to prevent and address them. Types of False Liability Claims There are several ... Read more

Inflating Damages – Types And Explanations

Inflating damages refers to the practice of exaggerating or misrepresenting the extent of damages in a legal claim in order to obtain a larger settlement or judgment. It is considered unethical and can lead to serious consequences for those involved. Inflating damages can occur in a variety of legal contexts, including personal injury cases, employment disputes, and business litigation. In personal injury cases, for example, a plaintiff may claim that their injuries are more severe than they actually are, in order to increase the amount of compensation they receive. Similarly, in employment disputes, an employee may inflate the amount of ... Read more

Fake Theft Claims: Insurance Fraud Type Prevention

Fake theft claims are a type of Fake theft claims where a policyholder falsely reports that they have been the victim of theft in order to receive a payout from their insurance company. This type of fraud is a serious crime and can result in legal consequences, including fines and imprisonment. There are several reasons why people might make fake theft claims. Some individuals may be facing financial difficulties and see this as a way to get quick cash. Others may feel that their insurance premiums are too high and see this as a way to get some of their ... Read more

Arson: Definition, Types And Preventing

Arson is a serious and dangerous crime that involves intentionally setting fire to property. It can cause significant damage to buildings, homes, and even lives. In this article, we will discuss the definition of arson, its different types, the consequences of arson, and how to prevent arson from happening. Definition of Arson: Arson is the crime of intentionally and unlawfully setting fire to property. The property can be anything from buildings, homes, vehicles, or even forests. It is considered a serious crime as it poses a significant threat to public safety and can cause severe damage to property and life. ... Read more

Faking Injuries: Potential Impacts To Individual And Society

Faking injuries, also known as malingering, is a phenomenon that occurs when an individual pretends to have an injury or illness for personal gain. This can be for a variety of reasons, such as financial compensation, time off work, or to avoid an unpleasant task or situation. There are several reasons why people might fake injuries. Some may do so for financial gain, such as trying to collect disability benefits or insurance payouts. Others may do it to avoid work or other responsibilities, or to gain sympathy and attention from others. In some cases, people may also fake injuries in ... Read more

Staged Accidents Fraud: Most Common Types Of Schemes

Staged accidents fraud, also known as intentional car collisions or orchestrated crashes, is a form of insurance fraud in which individuals or groups deliberately cause car accidents to collect money from insurance companies. This type of fraud has been increasing in recent years, resulting in higher insurance premiums for all drivers. Staged accidents fraud can take many different forms, but the most common types of schemes involve the following scenarios: The “swoop and squat” scam: In this type of scheme, one driver will suddenly pull in front of another car and slam on their brakes, causing the car behind to ... Read more

Insurance Fraud Types , Protections And Suggestions

Insurance fraud is the act of intentionally deceiving or misrepresenting information to an insurance company for financial gain. It is a serious crime that can lead to legal consequences, including fines and imprisonment. Insurance fraud can take many forms, and perpetrators can be individuals or businesses. In this article, we will discuss some of the most common types, and how to protected yourself of insurance fraud. Most Types Of Insurance Fraud Staged Accidents – In this type of fraud, one or more individuals intentionally cause a collision with another vehicle or pedestrian to file a false insurance claim and receive ... Read more

Dealing with an Insurance Adjuster: What Not to Say

Source After the shock of a car wreck, it can be hard to know exactly what happened. Naturally, gathering evidence isn’t at the top of your priorities — you just want to make sure everyone is safe. But just a couple days after a car accident, you’ll get a call from an insurance claims adjuster. You need to be very careful what you say — you’d be surprised what the insurance company can hold against you. Knowing what to expect when the other party’s insurance adjuster calls is the best way to prepare. Don’t forget that you have every right ... Read more

Health Care Fraud: Joe David May Charged In Kickbacks Generate Expensive Compounded Drug Prescriptions

Doctor and Sales Rep Charged in $12 Million Fraud Scheme Targeting Tricare and Extensive Cover Up Kickbacks Generate Expensive Compounded Drug Prescriptions LITTLE ROCK—A doctor and a medical sales representative have been charged in a scheme to pay and receive kickbacks to generate expensive prescriptions for compounded drugs. TRICARE, the military’s health insurer, paid over $12 million for the prescriptions, which the indictment alleges were rubber stamped without examining patients or regard to medical necessity. The 43-count indictment alleges the scheme also encompassed widespread efforts to obstruct the ensuing investigation. Cody Hiland, U.S. Attorney for the Eastern District of Arkansas, ... Read more

Insurance Fraud Types And How To Protect Of

Insurance fraud isn’t a harmless wrongdoing. At the point when individuals cheat insurance organizations out of cash, the legitimate individuals that compensation premiums pay through expanded insurance costs. Insurance organizations lose an expected $30 billion every year in insurance fraud costs that need to get passed on to charge paying purchasers. You can help stop insurance fraud by reaching your state branch of insurance and giving the greatest number of subtle elements as you can about the fraud that you saw. Customers should figure out how to be careful in recognizing insurance fraud by getting comfortable with the 10 most ... Read more

Preventing Insurance Fraud

Mechanics of a false insurance claim. Before a business will have interaction in security to stop insurance fraud, it’s necessary to grasp the mechanics of insurance fraud and the way usually it happens. Insurance fraud happens in virtually each business round the world and prices businesses, and people United Nations agency pay insurance premiums, billions of bucks per annum. there’s no explicit business that solely experiences insurance fraud, criminal activity may be known in most any field of business wherever insurance is carried and meant to shield shoppers. The motive most frequently noted for somebody to commit insurance fraud is ... Read more

Simple Steps You Can Take To Stop Identity Theft

According to statistics from 2006, identity theft happens to more than eight million people a year. As a result, there are a slew of companies offering services to prevent it. There ARE measures that the average person can take though that will help prevent identity fraud. This includes protecting your privacy,and your personal information, shredding mail and financial documents, and monitoring your credit diligently. You might also consider purchasing identity theft insurance. It won’t stop it from happening, but it will prevent scammers from taking over your savings and ruining your credit. How to Guard Your Privacy Most people don’t ... Read more

Who Should You Turn to For Identity Theft Assistance

When you’ve become the victim of a stolen identity your troubles have just begun. The mess you are left to clean up can be quite dramatic. Some people may only have to dispute a few unauthorized charges and have their credit cards replaced. Others may have to fight with credit card companies about cards they never opened or even fight with mortgage companies about homes they never purchased. Who can you turn to for identity theft assistance if you become the victim of the crime? The best approach to identity theft is a pro-active one. Hopefully you looked into identity ... Read more

New York Immigration Marriage Law

United States is through a lawful marriage to a U.S. citizen. As a result, the Immigration Service saw many sham or business marriages. To protect the agency and the country from fraudulent applications and marriages, Congress passed Immigration Marriage Fraud Amendments of 1986. Marriage Residence status Marriage now results in conditional residence status unless it is more than two years old at the time of granting the immigrant status. Two year period is measured from the time residency is granted. Conditional residence status may be terminated if before the second anniversary of the grant of conditional residence, the new ... Read more

What is the Role of Government For Surety Bonds

Who requires businesses to have bonds? 90% of businesses that need surety bonds are to satisfy a government regulation. In many cases bonds are needed to obtain a license or to perform a service for the government. Why are bonds needed? Bonds can be required for a variety of reasons. If the principal is performing services for the government the bond protects the tax payer’s investment. This extra step also helps the consumer by eliminating fly by night companies and provides an easier means of financial recourse. Not all bonds just protect the obligee there are bonds that can protect ... Read more

Making Subprime Mortgages Illegal

With all of the furor over the subprime mortgage debacle, a number of individuals and groups are taking a closer look at the loans that made the mess possible. Adjustable rate mortgages, interest only loans, and their variations are estimated at $3.5 trillion now, and they are partly to blame for the record foreclosure rates. One occasionally-proposed method to dealing with the crisis is simply to make these types of loans illegal. Although that may sound like a plausible solution, it does not address the more fundamental causes of the foreclosure problem. First of all, these types of mortgages have ... Read more

A Landlord’s Potential Problems (and How a Tenant Report Can Remedy Them)

Landlords and property owners have to contend with a number of issues, risks, and problems when renting out an apartment or a land, for instance. Of course, there are laws that supposedly protect owners from dubious entities who practice rental fraud. But unfortunately, these laws do not work much to their advantage, as the frauds can already get their way around these roadblocks to their criminal intent. This is, now more than ever, it is essential for a landlord or a property owner to secure a tenant report. A tenant report can serve as anyone’s insurance against fraudulent individuals. Once ... Read more

Shrinkage – And Two Technology Predictions

A family friend who works at a major retailer reported one night over a drink that he had the strangest of days. He made goal (good for him) selling high-end merchandise to individuals he knew in his heart of hearts were thieves using a stolen credit card. Management was called. Security was called. But in the end the transaction approved because that sale would contribute towards the retirement of that day’s sales goal. After all, the sales clerk, and his manager, and the store would all get paid. And the thieves would look oh so good in their new duds. ... Read more

Florida No Fault Insurance – No Fault Auto Insurance Laws in FL and Other States

What is Florida no fault insurance? What exactly is no fault insurance in the first place? Where is it available and what are its advantages and disadvantages? If you life in FL and have questions about how the Florida no fault car insurance laws work or really if you live in any one of the twelve states that use a no fault system, knowing the answers to these questions will help you understand how your car insurance policy works. Read on to learn some of the basics of no fault car insurance in Florida and in other states. WHAT IS ... Read more

Coming to Terms With Asset Protection Strategies

Asset protection deals with protecting your assets from others who may make a claim on them through a court action. Developing an approach to what asset protection strategy you need requires you to understand which assets of yours are vulnerable to be claimed, when, and from whom. This article outlines these points and the boundaries and limitations that affect your choice of asset protection device. So how do you scope out an asset protection strategy for you? Here’s what you need to know. First: Recognize who can make a claim on you and for how much: Creditors can. You entered ... Read more