Live Insurance News

Georgia insurance commissioner indicted in alleged $2 million fraud case

May 16, 2019May 15, 2019 Julie Campbell

Georgia Insurance Commissioner - Dangling money

The U.S. attorney’s office described the case and the allegations against Jim Beck. Earlier this week, the United States attorney’s office laid out what it called a $2 million fraud case which involves Georgia Insurance Commissioner Jim Beck. The commissioner’s attorney entered into negotiations regarding when and how Beck would turn himself in. The Georgia insurance commissioner is the target of a 38 count indictment. It accuses Beck of widespread fraud regarding work he did for the Georgia Underwriting Association (G.U.A.). The alleged fraudulent activities all occurred before Beck was…

Disability insurance fraud detection may soon include your social media posts

March 20, 2019March 18, 2019 Logan B.

Disability insurance fraud - Frisbee throwing

Federal disability payment recipients may want to watch what they share on Facebook and Twitter. Disability insurance fraud detection efforts may soon include the right to view what payment recipients are posting on social media. Efforts by the Trump administration have been silently underway to make this access legally possible. The Trump administration’s efforts would allow the access and use of social media posts to aid in their efforts to detect disability insurance fraud. This would mean that people collecting Social Security disability benefits may have their Facebook, Twitter, Instagram…

Woman saws off her hand in what may be shocking insurance policy fraud

March 15, 2019March 14, 2019 Logan B.

The woman was found to have purchased five different policies ahead of the incident. A woman who cut off her hand with a circular saw in January is now being accused of insurance policy fraud. Though it initially appeared to be a terrible accident, the Slovenian woman may actually have attempted to defraud several insurers.defau Police and prosecutors are attempting to determine if the event was a bad accident or flawed crime. The 21-year old woman was accused of insurance policy fraud in Slovenia when it was found that she…

FBI investigating country-wide workers compensation fraud scheme

February 28, 2019February 28, 2019 Julie Campbell

The Bureau is looking into an alleged nationwide scam involving insurance and pensions. The F.B.I. has launched an investigation into an alleged nationwide workers compensation fraud, health insurance scam and pension plan scheme. The scheme involves policies and plans sold by American Labor Alliance or its U.S. subsidiaries. The F.B.I. has requested that any businesses that have purchased policies or plans from American Labor Alliance (A.L.A.) or any of its subsidiaries across the country should contact their state insurance regulator. The state regulator will be able to tell if health…

School superintendant charged with health insurance fraud in heartbreaking case

January 28, 2019January 25, 2019 Julie Campbell

The Indiana educator attempted to seek medical treatment for a student by pretending he was her son. An Indiana school superintendant is now facing several health insurance fraud charges. According to police, the Casey Smitherman attempted to use her health plan to pay for a student’s medical treatment by using her son’s name. “My only concern was for this child’s health,” said Smitherman after charges were laid. Smitherman admitted to understanding that she was committing health insurance fraud. “I know this action was wrong,” she said, proceeding to say that…

Charges laid in massive health insurance scam worth $1M in fraud

July 16, 2018July 15, 2018 G. Turner

A Florida man has been charged with impersonating a New Jersey doctor to make falsified claims. A Florida man is now facing charges in a massive health insurance scam. To swindle his insurance company out of about a million dollars, he allegedly assumed the identity of a doctor in New Jersey. The man proceeded to file a number of fraudulent claims against his medical plan. By using the New Jersey doctor’s identity, the man allegedly submitted over $1 million in fake insurance claims. The health insurance scam involved services that…

Insurance fraud technology now includes artificial intelligence

June 28, 2018June 27, 2018 Julie Campbell

Insurance fraud technology - Artificial Intelligence Tech

Insurers are looking to A.I. and machine learning to help spot suspicious claims in all new ways. Insurance fraud technology is looking all the more futuristic these days with the introduction of artificial intelligence. Machine learning is helping the insurance industry to identify suspicious-looking claims. Moreover, A.I. can also make its way through social media posts to identify signs of fraud. Fraudulent activities can include anything from falsified claims to sketchy brokers, and it’s expensive. The FBI estimates fraud is costing insurance customers over $40 billion per year. The industry…