Reduce the risk of fraud and prevent income loss.

Click on the icons below to learn more about each type of fraud:

Reduce the risk of fraud and prevent income loss.

Click on the icons below to learn more about each type of fraud:

Insurance Fraud...

The Billion Dollar Disaster

Billions of dollars are picked from Consumers' pockets each year by what many people consider a "victimless" crime. Most people are not even aware that it is happening.

This kind of theft is occurring in automobile repair centers, medical clinics, law offices and at your next door neighbor's house. Often white-collar criminals, including doctors and lawyers, have the quickest hands and generate the largest cash flow from unsuspecting Insurance Companies.

The crime is Insurance Fraud

Insurance Bureaus estimate that Insurance Fraud involves about 15% of Insurance Claims, which is thought to be a conservative estimate by Special Investigation Units which investigate insurance fraud.

That estimate does not take into account the exaggerated claims which have come to be an accepted practice in North American Society. How many friends, family members and acquaintances do you know who have stretched the truth when submitting an insurance claim? Perhaps you have even convinced yourself that it is acceptable to exaggerate. An exaggeration is paramount to a lie; a lie is an intent to deceive and that constitutes a fraud.

Most Individuals never consider the consequences of Insurance Fraud or exaggeration, but what if a diligent Adjuster decides to question and investigate your Claim? An Insurance Claim can be denied if you misstate a fact, exaggerate or attempt to commit a fraud. If your claim isn't worth all that much you may not suffer a huge consequence, but if your Claim is worth thousands of dollars what would the consequence be then? You will probably lose your entire claim, and you may be denied insurance in the future as a result of having a denied insurance claim. Insurance Companies do not want to sell insurance to fraudsters.

Have you ever wondered why your Insurance rates continue to increase even though you have not made a claim? Of course, the events of September 11 and various natural disasters in the last few years have certainly contributed, but by and large fraud has a big impact on the rate increase of Insurance Policies worldwide, and it is you, the Policy Holder, who is helping to pay for the fraud that is a common occurrence in the Insurance Industry.

Some Drivers are paying exorbitant premiums for car insurance due to the number of accidents in which they are found to be at fault. But when the premiums are more than they can afford to pay some of these Drivers choose to drive without insurance and when they are involved in additional accidents without insurance coverage, YOU will end up paying for the uninsured motorist.

There are many types of Insurance Fraud. Here are the most common ones...

  • House Break and Enters which either never occurred or the list of stolen items is exaggerated.
  • Reported vehicle thefts that are actually Hit and Run Accidents involving impaired drivers or other criminal acts.
  • An owner wanting to get rid of a vehicle because there was a major mechanical failure and because it would cost too much to repair, the vehicle is destroyed or burned, then reported stolen.
  • Bodily injury claims from Motor Vehicle Accidents are grossly exaggerated or non-existent.
  • Disability fraud is extensive and is facilitated by the medical profession in many instances because they are na├»ve or complacent, believe what they are being told, don't want a confrontation with their patient or they don't want to lose the patient's business.

Would it surprise you to know that Organized Crime is involved in Insurance Fraud?

Organized Crime is involved in the theft of vehicles and replacing the VIN tag on the dash with one that is from a similar model vehicle that has been written off and salvaged as a result of an accident. That is why you should heed the advice under the category Used Car Buyer Fraud on this web site. Your next used car purchase could be a stolen vehicle.

Organized Crime is involved in the staging of motor vehicle accidents and making false bodily injury claims which involve everyone from car thieves to lawyers, doctors, chiropractors, physiotherapists and various other medical professions which can treat or give expert opinions on physical injuries and post-traumatic stress syndrome.

Are you starting to realize why Insurance Fraud has been referred to as a billion dollar disaster?

If Insurance Fraud is not controlled in the next decade your children may not be able to afford the premiums for Insurance which protects them and their families. Have we considered the consequence of this? What can we do?

For starters we have to change our attitudes. Insurance fraud is not acceptable and everyone who pays insurance premiums will pay more due to the cost of fraud.

If you know of someone who has committed a fraud or is about to commit a fraud, you should report it. Noted below are two web sites where you can report information and tips. Or, you should be able to make a report to your local Police TIPS line. Please persist but if for some reason you are having difficulty, contact us and we will assist you with reporting your TIP.


© Copyright 2015 - CriminalFraud.com