Insurance Fraud

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Dictionary Says

Definition of 'Insurance Fraud'

An illegal act on the part of either the buyer or seller of an insurance contract. Insurance fraud from the issuer (seller) includes selling policies from non-existent companies, failing to submit premiums and churning policies to create more commissions. Buyer fraud includes exaggerated claims, falsified medical history, post-dated policies, viatical fraud, faked death or kidnapping, murder and much more.
Investopedia Says

Investopedia explains 'Insurance Fraud'

Insurance fraud is basically an attempt to exploit an insurance contract. Insurance is meant to protect against risks. It isn’t meant to be a tool to enrich the insured. Although insurance fraud by the policy issuer still occurs, the majority of cases have to do with the policyholder attempting to receive more money by exaggerating a claim. More sensational instances such as faking one’s own death or killing someone for the insurance money are comparatively rare.
Search results for

'Insurance Fraud'

  • What You Need To Know About Insurance Fraud

    http://www.investopedia.com/articles/insurance/11/life-insurance-fraud.asp
    Insurance fraud is as old as commerce. Discover the types of life insurance fraud
    and how they affect you. ... What You Need To Know About Insurance Fraud. ...

  • How Insurance Companies Detect Insurance Scams - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/0212/How-Insurance-Companies-Detect-Insurance-Scams.aspx
    ... According to the Insurance Research Council, insurance fraud costs between roughly
    $5 and $7 billion a year in inflated claims just in the auto insurance area ...

  • Filling The Gaps In General Liability Insurance

    http://www.investopedia.com/articles/financialcareers/08/liability-insurance.asp
    ... Directors & Officers (D&O) Liability Insurance: What it covers - The policy provides ...
    Exclusions - Most D&O policies will exclude coverage for fraud or other ...

  • The Pioneers Of Financial Fraud

    http://www.investopedia.com/articles/financial-theory/09/history-of-fraud.asp
    ... A true history of fraud would have to start in 300 BC, when a Greek merchant name
    Hegestratos took out a large insurance policy known as bottomry. ...

  • Mortgage Fraud: Understanding And Avoiding It

    http://www.investopedia.com/articles/mortgages-real-estate/10/how-mortgage-fraud-affects-markets.asp
    ... to create a fake borrower, a chain of title on a nonexistent property, and to get
    a title and property insurance binder. Additionally, the fraud chain may ...

  • Is Identity Theft Still An Issue? - Investopedia.com

    http://financialedge.investopedia.com/financial-edge/1111/Is-Identity-Theft-Still-An-Issue.aspx
    ... of the complaint volume. (For related reading, see What You Need To Know
    About Insurance Fraud.). Up and Down? A report released ...

  • Baby Boomers Beware: Financial Fraud That Targets Seniors

    http://www.investopedia.com/articles/pf/11/senior-financial-scams.asp
    ... to rob it; Convincing owners to join in fraudulent insurance claims and on and on.
    (For more on potential fraud, check out Homeowners, Beware These Scams!). ...

  • Life Lesson No. 1: Avoid College Scholarship Fraud

    http://www.investopedia.com/articles/younginvestors/09/college-loan-scams.asp
    Life Lesson No. 1: Avoid College Scholarship Fraud. January 23 2009 | Filed Under ยป
    Personal Finance. A college education can be expensive. ...

  • Affinity Fraud: No Safety In Numbers

    http://www.investopedia.com/articles/pf/09/avoiding-affinity-fraud.asp
    Affinity Fraud: No Safety In Numbers. ... Madoff pulled off something that is often referred
    to as a Ponzi scheme, which is a type of affinity fraud. ...

  • The History Of Insurance In America

    http://www.investopedia.com/articles/financial-theory/08/american-insurance.asp
    ... Scandal, Fraud and Regulation With the explosion in insurance products and the
    companies issuing them, the young industry was fraught with fraud and scandal. ...

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