Search Results for: blog what is insurance fraud

OFIR Warns Michigan Drivers About Fake Auto Insurance

The Office of Financial and Insurance Regulation (OFIR) is warning Michigan drivers about the potential that they may have purchased a fraudulent auto insurance policy. An investigation revealed another situation where someone was intentionally selling fake car insurance to unsuspecting drivers. If you live in Michigan, you might want to go check your auto insurance policy to make sure its is real. Every state requires that drivers purchase auto insurance. People tend to look around for a policy that isn’t expensive, yet covers what it is supposed to cover. It is a good idea to do some “homework” and make … Continue reading →

Make Sure Your Auto Insurance is Real

Many states require drivers to have current auto insurance coverage. Honest people will follow the law and purchase car insurance coverage. Unfortunately, some drivers in Detroit may have ended up buying fake auto insurance from a very dishonest person. Check to see if your policy is real. Your state probably requires all drivers to be covered by auto insurance. This means that you must purchase it in order to comply with the law. Without it, you could be in for some big trouble if you ever are pulled over by a police officer. Even if your state doesn’t require you … Continue reading →

Adding Insurance After Accident Won’t Help

Most, if not all, states require drivers to purchase auto insurance coverage. A woman in Pennsylvania decided to add comprehensive and collision coverage to her car insurance policy after an accident had already occurred. She may have thought this would help her save money. In reality, this is a form of fraud. Not every consumer understands exactly what his or her car insurance policy covers. This makes it difficult for people to compare one policy to another in order to obtain the coverage they require for the least amount of money. Some of the wording in the policies is confusing … Continue reading →

Insurance Blog Week in Review – July 1 – 7, 2012

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Each week, the Insurance Blog Week in Review gives you a quick and easy way to “ketchup” on everything that has been posted here in the past seven days. There can be anywhere between twelve and fourteen blogs that appear. What did you miss? Just the Facts – About the Health Insurance Tax The Supreme Court ruled that the Affordable Care Act is constitutional. Many people are confused about how the individual mandate tax will affect them. This blog gives you just the facts about that tax. The Insurance Blog Week in Review went up on July 2, 2012. As … Continue reading →

California Insurance Agents Arrested for Ponzi Scheme

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It is never a good idea to attempt to run a Ponzi scheme. An insurance agent, and a former insurance agent, from Southern California, just got arrested for allegedly running a million-dollar Ponzi scheme. The men targeted Latino senior citizens as their victims. Do you know what a Ponzi scheme is? It is what Bernie Madoff got in trouble for running a few years ago. Madoff ripped off several celebrities including Kevin Bacon and Kyra Sedgwick, Zsa Zsa Gabor and her husband Prince Frederic von Anhalt, and others. A Ponzi scheme, according to the United States Securities and Exchange Commission, … Continue reading →

Life Insurance – You’re Doing it Wrong!

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A life insurance policy is designed to provide financial protection to your family after you have passed away. Like other insurance policies, you have to purchase it while you are still alive. A woman in Georgia pretended to be her deceased son, and signed up for a life insurance policy in his name. This woman was doing it wrong! A quick scan through your favorite news website will very likely bring up at least a couple of articles that talk about insurance fraud. It is illegal to commit insurance fraud, no matter what type of insurance is involved. The federal … Continue reading →

Insurance Blog Week in Review – May 6 -12, 2012

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Once a week, the Insurance Blog Week in Review gives you a brief description about everything that hit the blog in the past seven days. There could be anywhere between twelve and fourteen different blogs appearing in that amount of time. What did you miss? Here is your chance to “ketchup”. Oregon has Insurance for Growers of Medical Marijuana It is similar to a crop insurance policy. This specialty type of insurance is to provide some protection for people who are growing marijuana that is going to be used for medical purposes. It provides some finances to help if the … Continue reading →

Allstate Files Second Insurance Fraud Lawsuit of 2012

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Allstate Insurance has filed another insurance fraud lawsuit. It is the second one the insurer has filed this year. The insurer is seeking to recover a total of $6 million dollars from four defendants, (all of whom are from New York). Recently, the federal government did a nationwide takedown that resulted in 107 medical professionals being charged with Medicare fraud. The purpose was to prevent criminals from attempting to make money by filing fraudulent claims with Medicare for services or equipment that patients did not need or did not actually receive. This is the type of fraud that leads to … Continue reading →

Insurance Blog Week in Review – April 29 – May 5, 2012

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Every week, the Insurance Blog Week in Review quickly goes over all of the blogs that were posted in the past seven days. There can be anywhere between twelve and fourteen different blogs that appear here weekly. What did you miss? This is an easy way to “ketchup” on everything. Ohio Requires Insurance Coverage for Exotic Animals Ohio now requires owners of exotic animals to purchase a certain amount of liability insurance coverage for each animal they own. They also have to prove that they are providing proper care for the animals, and that they have good fences. The Insurance … Continue reading →

107 People Charged with Medicare Fraud in Latest Crackdown

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Federal officials in Washington just finished what they are calling a “nationwide takedown” of medical professionals who have been charged with Medicare fraud. This time, 107 people have been accused of fraudulently billing Medicare for a total of almost half a billion dollars. This is the latest effort to reduce Medicare fraud in order to keep the cost of Medicare manageable. In September of 2011, the federal government strengthened the insurance fraud laws. The changes increased the length of prison terms for people who commit insurance fraud. It added additional people to the strike force teams. New technology started being … Continue reading →