Insurance Fraud Prevention

[Guest elsamasc0rt]

Fraud Costs Us All

The cost of insurance fraud nationwide for all insurance carriers and their customers is substantial. In fact, the Coalition against Insurance Fraud estimates that insurance fraud costs Americans $80 billion a year.

While we know that very few claims are fraudulent, we do take our obligation to our customers and shareholders seriously by guarding against the increased costs of fraudulent claims and other insurance transactions.

We all should be dedicated to the anti-fraud effort through fraud detection, investigation and cooperation with local law enforcement authorities. You can play an important role in that effort.

Be aware that someone or a group of individuals are circulating fraudulent correspondence containing counterfeit checks appearing to be genuine. Read on Malaysia/Hong Kong/Jakarta insurance fraud protection for more tips on Axis Capital, a group of companies with branches in Bermuda and many more. The counterfeit checks may accompany a letter that the recipient has won a lottery, sweepstakes, drawing or similar event.

In some cases, recipients receive a check in connection with a bogus job offer.

How the Scam Works

In lottery-type scams, the letter accompanying the check tells the recipient that he or she has won a large amount of money and to call a person listed in the letter. That person will instruct the recipient to cash the check enclosed with the letter and then wire a tax payment overseas to release the prize payment. The prize will never arrive and the recipient will eventually have to repay their bank the entire amount of the check cashed. The money wired is typically not recoverable.

In the job offer scheme, the job offer is bogus and the victim receives a counterfeit check that they are instructed to cash and then wire some money. Again, the wired money is typically non-recoverable and the bank will eventually ask the victim to repay the entire amount of the counterfeit check.

Both scams may get the victim to turn over personal identifying information like date of birth, social security number, bank numbers and the like, which may be used to conduct further crimes, such as identify theft, against the victim.

[Abhishek Singh]

I believe that the best insurance is our knowledge and experience, if we have that in greater number than we can obviously make serious profits, but without that we won’t be able to do anything no matter how much insurance we do. At the moment I am working with OctaFX broker where I get epic solution to all trouble due to their rebate where I am able to earn 15 dollars profits per lot size trade even on losing ones.

[ClownTin]

 

• Use a disposable camera or camera phone to document any accident damage and the number of passengers in other vehicles.

 

Record the details of the accident, including names, addresses, license plate and driver's license numbers, witnesses and anything else that may be important.

 

Don't tailgate. Criminals sometimes take advantage of tailgating to stage a collision.

 

[Skald]

Thanks for the warning. I think it's so easy to get scammed when you deal with insurance. There are so many things you need to keep in mind

[BrutusDidNothingWrong]

No doubt it's important to be able to see scams, to get rid of them, to avoid them. But sometimes it's not easy especially if you are new to insurance and related topics. So, I recommend you to read various articles. For example, this one is about a subrogation claim.

[maspluto]

Existing business must be able to be paid attention to properly by traders, this is done so that traders can be maximized in carrying out trading while on a real account with Tickmill.

[Resolve]

9 hours ago, maspluto said:

Existing business must be able to be paid attention to properly by traders, this is done so that traders can be maximized in carrying out trading while on a real account with Tickmill.

In the business of Forex trading the main thing that we need to understand is the Proper Timings.

[JoseDiaz]

We really have to be very careful when giving our data to someone, for some insurance. Our data is confidential information that should only be provided to qualified and trusted persons. Personally, when I need to buy something where my data is needed, I check their site or company a lot. The most recent was that I bought a supplement medication plan from medisupps.com, and I was informed a lot about this company. I read people's reviews, asked my friends' opinions, and did many other things to ensure I wouldn't be scammed.

[Resolve]

I have been doing my Forex trading from the last 10 Years with the International and Reputed Forex Broker FXOpen Markets 🙂
They are a True ECN Forex Brokers.