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Insurance agents from Miami, Kendall and Doral fraudulently used others’ personal identification to claim they sold life insurance policies to people who didn’t buy them, state investigators say.
Life insurance fraud isn’t just about a policyholder being dishonest, it can involve multiple players, including beneficiaries, agents or even the insured themselves. Whether it’s someone ...
Agent fraud. Most insurance professionals are honest, but if you buy your car insurance coverage through an agent who has the potential to commit car insurance fraud, it can cost you.
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.
Florida's Division of Insurance Fraud continues to lead the fight against insurance fraud under the leadership of Colonel John Askins. During Fiscal year 2008/2009, investigative efforts by The Division of Insurance Fraud resulted in 982 cases presented for prosecution, 834 arrests, and 532 convictions. Also during Fiscal Year 2008/2009, The ...
Former Georgia Insurance Commissioner John Oxendine was sentenced to three and a half years in prison Friday for conspiracy to commit health-care fraud in connection with unnecessary lab testing.
The company went public in 1964. By 1972, it was one of the ten largest life insurance companies in the United States, as well as the fastest growing one, with (claimed) assets of $500 million. [2] The company created more than 60,000 bogus life insurance policies that it sold to reinsurance companies for a fee.