Watch the full video at https://rumble.com/vgxehx-a-video-describing-some-types-of-insurance-fraud.html and at https://youtu.be/tFb93xdIr6w  Every real estate adjuster from the first party will face in his career attempts to deceive the insurer for whom the adjuster works. It is imperative that the adjuster is aware of any type of property insurance fraud he or she may encounter. Some, but certainly not all, types of fraud follow:
Arson for profit
Arson is the intentional burning of property. It is no longer limited to specific types of properties. Although it may be the most dangerous of all insurance fraud methods, people continue to try fraud by burning their homes, vehicles and business structures.
The Staged Theft
The staged or false home theft where the insured reports the theft of property from a home or business when nothing actually happened. I U.S. Pat. v. Tam 240 F.3d 797, 2001 Daily Journal D.A.R. In 885, three defendants were convicted of conspiracy to commit postal fraud and to transport stolen cars in foreign trade, postal fraud and transport of stolen cars in foreign trade, and two of them were also convicted of conspiracy to launder money, after a jury trial. The Court of Appeal concluded that there was sufficient evidence to support a defendant's convictions.
Staged Water Damage or Mold Claim
If the insured intentionally promotes damage by wetting the home or commercial property with a hose or disconnecting a plumbing fixture to generate water damage and encourage mold growth.
A staged loss, regardless of type, is fraud. Even if no claim is submitted, an insured person can be accused of attempted fraud and be subject to criminal sanctions. For example, in a case in New York, a man gave his car keys to a third party who was going to sell or otherwise sell the car. The insured was asked by a third party to file a fraudulent claim against his own policy and claim that the car was stolen. After reporting the theft, the insured became frightened and did not proceed with the damages.
Post-update of a loss
This fraud technique involves a loss at a time when an individual has no insurance or insufficient insurance.  After the loss, the individual applies for insurance or increases the limits of existing coverage, so he or she has sufficient insurance to cover the loss. After a period of time (usually several weeks), a fraudulent claim is submitted for a loss that has been reported to have occurred after the new policy came into force.
© 2021 – Barry Zalma
Barry Zalma, Esq., CFE, now limits his practice to working as an insurance consultant specializing in insurance coverage, handling insurance claims, cheating and insurance fraud almost equally for insurance companies and insurance companies. He also acts as an arbitrator or mediator for insurance-related disputes. He practiced law in California for more than 44 years as an insurance coverage and claims lawyer and more than 52 years in the insurance business. He can be found at http://www.zalma.com and email@example.com.
Mr. Zalma is the first recipient of the first annual Claims Magazine / ACE Legend Award.
For the past 53 years, Barry Zalma has devoted his life to insurance, insurance claims and the need to defeat insurance fraud. He has created the following library of books and other materials to enable insurers and their claims staff to become insurance claims staff.
Go to the podcast Zalma On Insurance at https://anchor.fm/barry-zalma; Follow Zalma on Twitter at https://twitter.com/bzalma ; Go to Barry Zalma videos on Rumble.com at https://rumble.com/c/c-262921; Go to Barry Zalma on YouTube- https://www.youtube.com/channel/UCysiZklEtxZsSF9DfC0Expg; Go to the library for insurance claims – https://zalma.com/blog/insurance-claims- library / Read posts from Barry Zalma at https://parler.com/profile / Hymn / post; and the last two issues of ZIFL at https://zalma.com/zalmas-insurance-fraud-letter-2/ podcast now available at https://podcasts.apple.com/us/podcast/zalma-on -insurance / id1509583809? uo = 4