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Three Ways to Commit Insurance Fraud

Insurance companies are intended to be there for you when you suffer a great financial loss or burden as a result of an accident or death. Because many of these policies can pay out significant sums of money, it’s not uncommon for crooked individuals to try to cheat the system and get ahold of some of this money illegitimately. This is known as “insurance fraud,” and is prosecuted on both a state and federal level.

There are a number of ways in which criminals have tried and succeeded in committing insurance fraud, and new methods are attempted regularly, so insurance companies must always be vigilant and investigate claims thoroughly to ensure their legitimacy. Here are three ways in which criminals can attempt to commit insurance fraud.

Health Insurance Fraud

This is perhaps the most common type of attempted fraud, as medical claims for pain can be difficult to verify. People or medical providers can submit false claims for injuries or treatments in an attempt to have the medical provider pay for them, after which they simply pocket the money. This is a federal crime in addition to being prosecuted in all 50 states.

Auto Insurance Fraud

When someone fabricates an accident, falsifies a claim, or fakes an injury to attempt to get more money from an insurance company as compensation, they could be convicted of auto insurance fraud. It’s also possible for body shops to commit auto insurance fraud by over-estimating the cost to repair a vehicle, which is why many insurance companies have their own field adjustors who inspect damaged cars for themselves to verify if a claimed amount is accurate.

Life Insurance Fraud

This type of fraud tends to be an elaborate scheme, as one person must fake their own death in order to obtain any actual benefits of it. Forging a death certificate of a family member in order to obtain their life insurance payout is one of the more common ways. The common murder mystery plot of killing a spouse and “blaming the butler” to obtain a massive life insurance payout is also life insurance fraud (in addition to first-degree murder).

If you are facing accusations of insurance fraud, you should retain the services of a skilled Denver white collar crimes attorney as soon as possible. At my firm, the Law Office of David L. Owen, Jr., P.C., I firmly believe that you should be confident that you are being represented by the attorney you have hired. I personally handle every single case, and we work together to help you navigate your case and arrive at the best possible outcome. I have substantial experience in both private and public practice, and have handled a wide range of crimes, including white collar crimes on both a state and federal level.

Don’t hesitate to get started with your case. Call the Law Office of David L. Owen, Jr., P.C. today at 303-622-3281 and receive a free 30-minute initial consultation.