Simply copy the text, click here and paste the text into the text field. Follow the instructions for choosing the desired language and completing the translation. Insurance fraud is any deliberate deception against or by an insurance company or agent for the purpose of illegal or unwarranted financial gain. Insurance companies pass most of their losses from fraud along to their customers in the form of increased rates. Therefore, all policyholders pay more because of losses to fraud.
Insurance fraud can take place during many insurance transactions.
It may involve unlicensed agents and brokers, applicants for insurance, policyholders, third-party claimants, doctors, lawyers and other professionals, and even organized crime rings. According to state insurance commissioners around the country, immigrants are increasingly the victims of insurance fraud. Newcomers often have limited English skills and have little or no understanding of insurance-a complex subject that many English speakers do not fully understand. Scam artists prefer to prey on unsophisticated consumers. Con artists take advantage of the fact that newcomers often feel more comfortable around people of the same background, and trust people who speak the same language.