NYC Insurance Fraud Lawyers
Auto Insurance Fraud Many people perpetrate car accidents, fake traffic deaths and more so they can collect a payout from an insurance company. The people who do this will often make exaggerated claims to increase their compensation. In some cases, it is done by groups of people who have experienced previous success in obtaining false insurance payouts. At times, even insurance adjusters from companies have been found guilty of participating in such fraud. These are individuals who will drive into busy intersections and purposefully slam on their breaks causing an accident. They may be seen by a physician who is part of the fraud and claim extensive physical injury when there is none.
People who commit medical insurance fraud cost the medical industry billions of dollars each year. There are three types of fraud most common in the medical insurance industry. A claim of personal injury that is actually false. Too much treatment for an injury that does not exist or one that may never heal. There are also physicians who file false claims of services provided with medical insurance companies.
Life Insurance Fraud
There are individuals who will perpetrate a false death in order to obtain the life insurance payout. In many cases, this type of fraud is part of a complex scheme. Some individuals have hired people to help stage a death. There have been companies who took out life insurance policies on their employees to collect life insurance funds. There is also a life insurance fraud called viatical fraud. This is when people with terminal illnesses are recruited. A number of life insurance policies are taken out on the terminally ill individual. Many of these policies are designed to have annuities with them. The terminally ill person is compensated with a certain amount of money up to their death. The individuals who participate in this fraud are often members of the medical profession or family members.
This type of fraud occurs when an individual attempt to obtain compensation after having falsely claimed to have been injured on the job. There are others who will greatly magnify the injuries received from an accident in order to extend a benefit period. This type of fraud has caused insurance companies as well as employers to place strict requirements for collecting these types of benefits. The accidents must be reported immediately, and treatment will not be compensated unless it is determined to be necessary by an experienced medical professional. In some cases, a second or third opinion of a person’s condition from a physician may be requested by an employer or insurance company.
Home Insurance Fraud
There are property owners who intentionally destroy or damage their property in order to obtain a payout from an insurance company. In many cases, people who do this will be motivated by financial problems, foreclosure issues and more. It is common for a person who does this to have another individual destroy the property while they are not near it. There have been cases of business owners attempting to get compensation for inventory they did not have or was removed prior to any damage taking place at the business.
Insurance companies, businesses, as well as individuals, can be victims of insurance fraud. This is a time when an experienced and knowledgeable attorney should be contacted. They will be able to help by knowing the law and understanding the details of the situation. An attorney will know how to recognize the red flags associated with fraudulent circumstances. They are able to protect their clients from being harmed by a false insurance claim. A lawyer will also know how to handle the representatives of an insurance company who does not want to pay the full claim. They can assist individuals in getting the level of compensation they deserve.
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