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Insurance fraud refers to any intentional act committed to deceive or mislead an insurance company during the application or claims process, or the wrongful denial of a legitimate claim by an insurance company. It occurs when a claimant knowingly attempts to obtain a benefit or advantage they are not entitled to receive, or when an insurer ...
The National Insurance Crime Bureau (NICB) is a U.S. insurance industry trade association focused on preventing, detecting and defeating insurance fraud and vehicle theft through information analysis, investigations, training, legislative advocacy and public awareness. [2] NICB's headquarters are in Oak Brook, Illinois.
An insurance investigator examines insurance claims that are suspicious or otherwise in doubt. Investigators in this field have differing specialties and backgrounds. Some insurance companies have their own in-house investigation teams while other companies sub-contract the work to private investigators or private investigation firms. [1]
Application fraud: Misrepresenting details on your life insurance application, whether intentionally or not, is another common type of fraud. This could involve omitting health conditions or other ...
Insurance fraud can take on many forms, from misrepresenting personal details on insurance applications to strategically planned schemes, such as staged accidents. Fraud can even include leaving a ...
The Insurance and Financial Advisor, a Web site that covers the news of the insurance industry, reported that Daniel Macken, of Wrigleyville, Illinois, is under arrest, charged with the felony of ...
The Coalition has published research studies on subjects related to insurance fraud, including claims investigation, the economic consequences of insurance fraud, and fraud prevention. [7] The Coalition also publishes information on common forms of fraud, and how businesses and consumers can protect themselves. [8]
The number of fraudulent motor insurance applications being detected has jumped by 16% since last year, according to data from a major insurer.