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A variation of this scam occurs in countries where insurance premiums are generally tied to a bonus–malus rating: the con artist will offer to avoid an insurance claim, settling instead for a cash compensation. Thus, the con artist is able to evade a professional damage assessment, and get an untraceable payment in exchange for sparing the ...
4. You are getting insurance paperwork out of the blue. If an insurance company is writing to you about cover you did not take out, it could mean someone is basing a fraudulent policy at your address.
The most well-known insurance specific rating company, the scores provided by AM Best are often considered the yardstick for financial strength in the industry. The highest rating offered is A++ ...
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 ...
Seniors are taking the brunt of financial fraud to the tune of $3.4B+. Learn the most common peer-to-peer, impersonation and other scams on the rise to keep your money safe.
Delay, Deny, Defend is a critical exploration of the property and casualty insurance industry, examining how its practices affect policyholders.Feinman, a law professor specializing in consumer rights and insurance law, argues that the industry prioritizes profits over policyholders' needs, often using tactics like delaying or denying legitimate claims to bolster financial performance.
‘Car insurance is a scam’: Frustrated driver slams GEICO for 56% rate hike after she failed to read the ‘fine print’ on her policy Bethan Moorcraft April 13, 2024 at 2:58 AM
Emil Savundra, Sri Lankan insurance swindler; the collapse of his Fire, Auto & Marine Insurance Company left 400,000 motorists in the UK without coverage. Jeffrey Skilling is an American former CEO of Enron Corporation , convicted of securities fraud (and other crimes) for his part in the 2001 Enron scandal , a $63.4 billion bankruptcy ($109.1 ...