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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: insurance fraud

insurance fraud stories: 8 news summaries

(Newser) - Insurance companies are being hit from all sides on at least one issue—in industry jargon, it's called rescission. In the real world, it's when insurers cancel coverage because they say a customer has lied to them about a preexisting condition or some other issue. It's not clear how many... More »

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health insurance • insurance companies • application • health care reform • insurance fraud • rescission • pre-existing condition

(Newser) - Car-insurance fraud spurred by the recession is continuing unabated, Newsweek reports. “Give-ups”—feigning theft or arson to collect insurance money on an unwanted vehicle—are up 24% this year over last, according to an industry group. And claims stemming from suspicious car fires are up 27%. “Normally... More »

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recession • arson • insurance fraud • auto insurance • cars • car theft

INVESTIGATION


 Global Insurance Fraud 
 Floods N. Korea with Cash 

North Korean leader profits personally from fires, disasters

Jun 18, 09 6:54 AM CDT
(Newser) - North Korea has collected hundreds of millions of dollars from global insurance giants on often suspicious claims of fires, floods, and other disasters, according to a Washington Post investigation. While insurers have kept mum about their losses, US officials and Korean defectors describe a sophisticated fraud that has provided Kim... More »

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North Korea • fraud • insurance • Kim Jong Il • insurance fraud


 Boaters Jumping Ship 
 in Troubled Times 

Erstwhile skippers scuttle their craft for the insurance payout

Apr 1, 09 8:20 AM CDT
(Newser) - Many boaters who bought their vessels during sunnier economic times are now regretting their purchases, and some of them are resorting to desperate measures, reports the New York Times. Facing hefty maintenance costs and docking fees, some skippers are simply cutting their crafts—often fully paid for—loose to drift... More »

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boat • insurance fraud • economy • financial crisis • recession depression

(Newser) - Car owners sideswiped by the economy have spurred a nationwide wave of arson and abandonment—last-ditch attempts to collect on insurance, the Wall Street Journal reports. Auto arson claims rose 6% nationally in 2008; in some particularly speculative states, the rate jumped as much as 18%. “Lots of desperate... More »

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crime • Las Vegas • recession • arson • insurance fraud • cars • economic downturn

As Mortgages Melt Down, Owners Burn Up

Debt-motivated arson another facet of US subprime crisis

Apr 21, 08 12:11 PM CDT
(Newser) - US homeowners are literally burning down their homes instead of paying their subprime mortgages. Last year saw a dramatic nationwide jump in apparently debt-motivated arson, the Los Angeles Times reports. “I'm busier now than a one-armed paper hanger,” said one investigator. “What is happening is terrifically economically... More »

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subprime mortgages • mortgage • arson • California wildfires • subprime crisis • insurance fraud

Man Kills Stranger, Fakes Own Death

Suspect commits suicide as cops close in; wife under scrutiny

Mar 7, 08 5:00 PM CST
(Newser) - A Chicago-area construction boss trying to work a life-insurance scam killed another man, used the body to fake his own death, then killed himself as police converged, the Chicago Tribune reports. Authorities are now looking at whether the killer and his wife, who had email contact after his “death,... More »

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Chicago • murder • identity theft • insurance fraud • life insurance • faking your own death • Ari Squire • Denise Squire • Justin Newman • Main Beam Construction

States Push to Restrain Insurers

Legislators see rise in unfair cancellations
of individual plans

Feb 21, 08 5:10 PM CST
(Newser) - As more Americans buy individual health insurance, states are acting to make sure insurers don’t cancel the plans without fair cause, USA Today reports. Plans can be canceled if applicants misreport their medical history, whether accidentally or on purpose. But amid complaints that companies are cutting the plans... More »

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health care industry • insurance • state legislature • state governments • health insurers • Blue Cross • health care cancellations • insurance fraud

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