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If you lie on an insurance application, you could face consequences for car insurance fraud. Depending on your state, you could face fines or possible jail time for lying on your application.
Buying a bogus policy through a ghost broker can have serious consequences, including police seizing the car, a fixed penalty notice, and being liable for any damage caused while driving without ...
Insurance fraud has existed since the beginning of insurance as a commercial enterprise. [4]Long before the rise of the modern insurance industry, an epigram by the Roman poet Martial, set in the Roman Empire during the first century AD, illustrates how crimes such as arson might be motivated by profit: [5]
Car insurance fraud is an increasingly common problem that could be reduced by dash cam use. If someone tries to involve you in a staged accident to receive a fraudulent claims payout, the result ...
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.
A staged crash, or crash for cash is when criminals maneuver unsuspecting motorists into crashes in order to make false insurance claims. The cars generally suffer little damage in relation to the large demand that is then fraudulently submitted. According to the Coalition Against Insurance Fraud, staged car crashes are a growing criminal problem.
New Jersey also has strict laws around car insurance fraud. Giving false information to an insurance company when filing a claim or applying for a policy can result in jail time, a $15,000 fine ...
The Associated Press reports that "Driven to desperation, a growing number of financially strapped car owners are torching, sinking or ditching their vehicles and then reporting them stolen to ...