Thursday 19 May 2011
All About Insurance Fraud
00:11 | 
Posted by
khalid mehmoodd
Since the insurance was invented, so it was insurance fraud. There are many types of fraud, life insurance fraud, auto fraud. This article provides an overview of when discussing the impact of fraud on society.
Most times, when someone commits fraud, for financial gain. Due to the nature of insurance policies, which are prey to exploitation potential. Generally, insurance policies are operated by individuals claiming more victims than actually happened, or inflate the value of the lost object.
Insurance fraud is generally divided into two categories - soft or hard fraud. Soft fraud is more common of the two, and is also known as opportunistic fraud. This type of fraud occurs when the insured inflate a claim already legitimate. Soft fraud, for example, occurs when an insured person involved in a car crash and argue that more harm was done to the vehicle's true. Soft fraud may occur at the beginning of a new insurance when a person buys a policy misrepresent their circumstances in order to obtain a lower premium. An example of this is if someone buys a car insurance, but higher than the number of miles on the vehicle to achieve a premium reduction
Hard fraud is when someone expects a loss to receive an insurance benefit. This type of scam is usually done with a fire, "stolen" car, or the like, the individual plans. Sometimes the whole crime networks are devoted to insurance fraud drive.
An example of a life insurance fraud took place in 2002 when a man named John Darwin disappeared in a canoe. His family gathered in his life and he resurfaced in 2007 with the amnesia reported.
the automobile insurance fraud is one of the most common types of fraud. It is estimated that in 1996, up 36 percent of auto insurance claims were fraudulent in some way. Soft fraud auto insurance fraud includes what is mentioned above but also situations where a person applies for an injury that occurred during the accident in question, or if someone registers their car in a safe place that is cheaper . For example, if a person lives in a big city is more expensive to insure the car, so you'll save with a local address in order to obtain a lower premium.
Hard insurance fraud is usually carried out in 'crash for cash "scenario, where there are several varieties of a progressive fall. One is a" classic rear end shunt, where the drivers slam their brakes when they hit the car behind them . Many times, the brake lights do not light up, but then again prior to the period of examination. Another "accident fund" common scenario is called "a useful wave slide," where the driver waves another car in front the traffic pattern, then crashes and deny them with stirring.
Insurance fraud is a very real problem in the United States in 2006 losses are estimated at nearly $ 80 billion. It is estimated that 30-10% of all medical expenses contain an element of fraud, causing billions of dollars in losses.
Most times, when someone commits fraud, for financial gain. Due to the nature of insurance policies, which are prey to exploitation potential. Generally, insurance policies are operated by individuals claiming more victims than actually happened, or inflate the value of the lost object.
Insurance fraud is generally divided into two categories - soft or hard fraud. Soft fraud is more common of the two, and is also known as opportunistic fraud. This type of fraud occurs when the insured inflate a claim already legitimate. Soft fraud, for example, occurs when an insured person involved in a car crash and argue that more harm was done to the vehicle's true. Soft fraud may occur at the beginning of a new insurance when a person buys a policy misrepresent their circumstances in order to obtain a lower premium. An example of this is if someone buys a car insurance, but higher than the number of miles on the vehicle to achieve a premium reduction
Hard fraud is when someone expects a loss to receive an insurance benefit. This type of scam is usually done with a fire, "stolen" car, or the like, the individual plans. Sometimes the whole crime networks are devoted to insurance fraud drive.
An example of a life insurance fraud took place in 2002 when a man named John Darwin disappeared in a canoe. His family gathered in his life and he resurfaced in 2007 with the amnesia reported.
the automobile insurance fraud is one of the most common types of fraud. It is estimated that in 1996, up 36 percent of auto insurance claims were fraudulent in some way. Soft fraud auto insurance fraud includes what is mentioned above but also situations where a person applies for an injury that occurred during the accident in question, or if someone registers their car in a safe place that is cheaper . For example, if a person lives in a big city is more expensive to insure the car, so you'll save with a local address in order to obtain a lower premium.
Hard insurance fraud is usually carried out in 'crash for cash "scenario, where there are several varieties of a progressive fall. One is a" classic rear end shunt, where the drivers slam their brakes when they hit the car behind them . Many times, the brake lights do not light up, but then again prior to the period of examination. Another "accident fund" common scenario is called "a useful wave slide," where the driver waves another car in front the traffic pattern, then crashes and deny them with stirring.
Insurance fraud is a very real problem in the United States in 2006 losses are estimated at nearly $ 80 billion. It is estimated that 30-10% of all medical expenses contain an element of fraud, causing billions of dollars in losses.
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All About Insurance Fraud
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