Insurance Fraud: Don't Be Fooled

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Insurance fraud in its most basic form is the act of knowingly lying for financial benefit. This means lying to gain monetarily when the money was not entitled to you. The insurance fraud can be a result of several different types of claims made to the insurance company, but they are all an attempt to try and gain financially by lying to the insurance company. In addition to repayment of the money and interest, there are also severe penalties put on the person trying to commit this crime. This criminal matter is usually handled by the Department of Justice, the Fraud Division, and they have the ability to charge to person with criminal charges. When a claim is under investigation and considered fraudulent, a special division of the insurance company will aggressively investigate the claim to make certain that these claims have merit. The majority of insurance fraud involves personal injury, health insurance, and personal injury. Someone claiming to have suffered injuries for the benefit of collecting compensation is a serious matter when it comes to the insurance company, and they will often exhaust all resources if the claim appears to be fraudulent in nature. While those three examples were the most popular types of Oklahoma insurance fraud, there are several other areas within the insurance world that are also subject to cases of fraud. These can range from but are not limited to automobile property, automobile collision, medical claims, life insurance, fire insurance, property insurance, and healthcare. Wherever there is an opportunity for a person to collect compensation from their insurance company, the chance for fraud exists. Once an insurance company has decided to pursue an insurance fraud claim, they are allowed certain resources by the federal government. Insurance fraud has been getting much more attention lately thanks to the increased amount of mobile devices in existence. Now when someone claims to be injured as a result of negligence and makes a claim for monetary benefit, just about everywhere they go they are under the watchful eye of some sort of camera. People trying to fraud their insurance company are being watched more intently now than ever before and the ability to catch them in a lie is easier than in recent years. The risk just is not worth the significant penalty if convicted of fraud.