Tag: insurance fraud cases

Pet Insurance Fraud in the US: A Growing Problem Impacting Policyholders and Pets

G. Turner
Pet Insurance Fraud

Pet insurance, once a trusted safety net for unexpected vet bills, is now facing an unsettling challenge in the United States. Fraud within the industry is on the rise, and its implications stretch far beyond the perpetrators and insurers. With insurance fraud costing Americans $308.6 billion annually—that’s $932 for every single person in the US each year—we’re not talking about pocket change. Fraudulent pet insurance claims, in particular, are compounding industry challenges and hitting honest pet owners where it hurts most—in their wallets and their trust. From exaggerated claims to…

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Louisiana insurance investigator killed raises safety concerns for industry

Early this week, two insurance investigators in Louisiana were found shot to death whilst in the midst of a fraud investigation. The incident caused concern amongst state regulators who have been railing against the prevalence of fraud in Louisiana. Now, the state’s Insurance Commissioner, Jim Donelon, is considering whether his agents will begin carrying weapons as a means to defend themselves as the insurance landscape becomes more volatile. The state’s Insurance Department will conduct a review of safety procedures, but Donelon is likely to institute his measure at the end…

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New York is fraught with insurance fraud

Nordstrom

According to a new report by the National Insurance Crime Bureau (NICB), Buffalo, New York, is home to a staggeringly high amount of questionable medical insurance claims. Second only to New York City, Buffalo adds to the states already extensive history of insurance turmoil. The report takes into account all occurrences of claims that have been found as “faked or exaggerated,” as well as instances of “excessive treatment.” The 7,026 questionable claims were filed throughout the state last year. Buffalo accounts for 145 of those, with New York City taking…

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Personal injury fraud is costing us all!

Marc

Lawmakers will be focusing on ways to control auto insurance prices; mainly, by reducing the amount of scams and civil lawsuits associated with bogus personal injury claims. Staged accidents are costing law enforcement, insurance companies and private tax payers millions of dollars a year. In most states, insurance fraud is a (2nd degree) felony, with a minimum, mandatory two year prison term if convicted. In some states, like Florida, organized crime rings committing auto related accidents have gotten so out of control, the insurance industry has developed special investigation units.…

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