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Insurance Fraud

Posted on November 26, 2013 at 1:30 PM

Insurance Fraud Details and Consequences

Author: Mark


Insurance fraud has existed ever since the insurance industry existed. False insurance claim is a way of deceiving the insurance agents. Such a fraud accounts for more than billions of dollar every year. With time the act of deceiving people is growing and this is a matter of concern for everyone.

 

Types of fraud in the insurance sector is very varied. Insurance fraud occurs in every area of life. From exaggerated amount of insurance to cause fake accident the matter can get deeper and deeper. Such acts can affect the lives of innocent people as well. Insurance fraud cause major problem in every areas of life and even the government sector is not unaffected by the act either. Law enforcers are trying to combat the problem with strict strategy.

 

Reasons

 

Reason to commit this act is financial gain. The contract of insurance industry opens the path for both insurer and the agents to commit the offense. If you are charged, you need to be very careful about the process of handling the matter. It is important that you hire expert Florida criminal attorney with experience to deal with the problem. The reason may vary, however, the primary reason always is greed and financial advantage.

 

It is not possible to calculate the entire amount that changes hand every year. However, a close to few billions of dollars are spent every year. To stop this the law has become strict and anyone charged or convicted with the offense may go to jail for a long time.

 

Types of Claim

 

Life insurance fraud is a common affair. People fake death to claim life insurance. The people who claim to be dead may return later saying that they have been suffering from amnesia.

 

Health care sector is another industry that has been affected by the fraudulent behavior. The health care professionals hide, conceal or falsify the information about the financial affairs. The deceiving act can be committed by both providers and also about the members. They sometimes fail to report the coverage.

 

Automobile Insurance is another sector which is affected by the fraudulent behavior. People stage accident to claim insurance amount for the damaged vehicles. Overstating the damage and injuries. This is another way to deceive the insurance company.

 

Property insurance fraud can be considered another problem. People obtain more money than the property is actually worth. To do this people use various methods. Detecting insurance fraud is not easy. Yet, the investigators chase such matters vigorously. Make sure to get legal assistance without making any delay.   


Article Source: www.articlesbase.com/law-articles/insurance-fraud-details-and-consequences-6842105.html


About the Author

Mark Hall is a freelance writer and his area of interest and expertise is criminal law. Mark has his own blogs and websites where he talks about criminal law and the different aspects of various white collar criminal cases. In his recent articles Mark has discussed how a Florida criminal attorneycan help those who are facing tax evasion charges.


Summary: Insurance fraud is a complicated and varied affair. Getting charged with this can be serious. Make sure to find a competent lawyer to deal with the problem.


  • Blog Publisher's Comment:  Even if you don't live in Florida, this article is an excellent introduction and the opening statement - "Insurance fraud has existed ever since the insurance industry existed" -  is not an understatement.  No sooner than a law appears on the books, a criminal is already scheming to work around it!

 

 

Categories: TAKING NOTES, S2 2013/14 JLY - DEC

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