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It helps if they purchased an enhanced title insurance policy when they bought the place: An enhanced policy generally covers events after the title is transferred, whereas a regular policy only ...
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 ...
Insurance fraud can be classified as either hard fraud or soft fraud. [14] Hard fraud occurs when someone deliberately plans or invents a loss, such as a collision, auto theft, or fire that is covered by their insurance policy [15] in order to claim payment for damages. Criminal rings are sometimes involved in hard fraud schemes that can steal ...
One homeowner in a neighbourhood north of Seattle lost about $435,000 (£343,000) to the scheme. The brothers pleaded guilty in September. They have already served six months of their 18-month ...
For decades, the FHA has offered mortgage insurance programs that are tailored to meet the needs of low- and moderate-income homebuyers, and it has served nearly three times as many Black ...
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.
NAMIC is the largest and most diverse property/casualty trade association in the country, with 1,400 regional and local mutual insurance member companies serving more than 135 million auto, home, and business policyholders and writing in excess of $196 billion in annual premiums.
The latest estimated price tag on the American dream now sits at a whopping $4.4 million, according to Investopedia, which factored in lifetime household costs, common major life milestones ...