Insurance Fraud

Insurance Fraud Is Not A Victimless Crime

Mechanic inflating car insurance claimInsurance fraud is basically trying to get an unjustified payout from an insurance company by making a false claim. Fraudulent insurance claims are, in fact, stealing and are treated with the same stiff penalties if caught. Insurance fraud is not a victimless crime. Billions of lost dollars annually are essentially passed on to honest citizens in the form of higher premiums and higher costs.  More information is available  here.

Too many people naively think that this kind of fraud is easy money and may be easy to escape discovery. Trying to make a quick buck this way may work for a little while, but it most often catches up with the person. Eventually, the fraud is discovered, even if it is months or years after the false claim. And then justice can be harsh.

The person who has defrauded the insurance company can end up in jail. But not only that, assets can be seized and it’s quite possible to lose everything – all for a likely short-term benefit. The risk is enormous, even if it seems enticingly low, because insurance companies have the resources to pursue fraud cases intensively, and set chilling examples for others who may consider it. The consequent justice is often devastating.

Common Types Of Insurance Fraud

1. Reporting fraudulent information about a car accident.
2. Reporting items stolen that have been sold to collect on renter’s or homeowner’s insurance, or reporting a vehicle stolen when it has been actually sold, or inflating car damage in collusion with an auto body shop.
3. Reporting car damage and then not using the insurance payout to pay for repairs.
4. Inflating storm damage.
5. Setting an insured house on fire that has been abandoned, or hiring a criminal to set a fire so that the homeowner can set up an airtight alibi for being somewhere else.
6. Faking a death.
7. Inflating billing for health care procedures or services, performing unneeded procedures or billing for undelivered services.

Private detectives are often hired to pursue investigations and develop evidence.   You can find out more details by contacting Jaye Mundy Investigations.  Professional investigators are expert at getting to the truth in such cases, and the truth can ruin the life of someone who couldn’t pass up a poorly-judged easy buck.

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