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Home / Insurance / Zalma's Insurance Fraud Letter – 15 November 2020

Zalma's Insurance Fraud Letter – 15 November 2020



Insurance fraud is epidemic

Insurance fraud continuously takes more money each year than it did from insurance buyers. There is no specific number. Most attempts at insurance fraud succeed. Estimates of the extent of insurance fraud in the United States range from $ 87 billion to more than $ 300 billion each year.

Insurers and government-backed pseudo-insurance companies can only estimate the extent to which they lose for fraudulent claims. The lack of adequate investigation and prosecution of insurance offenders is endemic. Most insurance frauds are not detected. Those who are discovered do so because they became greedy, careless and unprofessional so that the attempt at fraud becomes so obvious that it cannot be ignored. car crashes are fake. Claims on property and accidents against car insurance are not much better and amount to about 10% fraud.

A person commits the offense of insurance fraud by knowingly and intentionally deceiving all insurers who present or cause to be presented to each insurer any statement that forms part of, or in support of, a claim that contains false, incomplete or misleading information about any fact or factual material to the claim. A person acts "consciously" when he or she is aware that it is practically certain that his or her behavior will cause such an outcome. Likewise, a person acts "intentionally" when "it is his or her conscious intention to engage in the behavior of that nature or to cause such an outcome.

Read the full article and issue 11-01-2020 at https: //zalma.com/zalmas-insurance-fraud-letter-2

Knowledge of insurance is required to adequately investigate insurance fraud

Before insurance fraud can be understood, it is important to understand what insurance is and how it works. Insurance is not a right granted by the Constitution to all residents of the United States. It is an agreement between an insurance company and a person or company called the insured. Insurance is only an "agreement in which one undertakes to replace another. against loss, damage or liability that arises as a result of a possible or unknown event. "[California Insurance Code Section 22] That's all that insurance is: a contract.

It is a special type of contract where for the insurer agrees to compensate the insured for loss, damage to property or liability as long as the event for which damages are claimed is sought. conditional or unknown when the insurance was acquired. A condition that already exists is not conditional or unknown. You should not be able to buy insurance against the fire loss in a home after it burns down. A person should not be able to buy health insurance to treat cancer only after the cancer has been diagnosed. Car liability insurance purchased after an accident is not an insurance and should not compensate the insured for damage caused.

Insurance fraud exists because its perpetrators want to make money by not following the above definition. Those who commit insurance fraud intend to create loss, damage or liability rather than join the pool for those who have no losses but want to protect themselves against possible or unknown events.

Also read the following articles and reports

Health Convictions about insurance fraud

Zalma about insurance videos

Other convictions about insurance fraud

Consider books to show your appreciation for your insurers16 – Barry Zalma

Barry Zalma Esq., CFE, now limits his practice to serving as an insurance consultant specializing in insurance coverage, insurance claims handling, fraud and insurance fraud almost equally for insurers and insurers. 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 is available at http://www.zalma.com and zalma@zalma.com.

Mr. Zalma is the first recipient of the first annual Claims Magazine / ACE Legend Award.

For the past 52 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 professionals in insurance claims.

https://zalma.com/zalmas-insurance-fraud-letter-2/ Last read two issues of ZIFL here.

Go to Barry Zalma videos on Rumble.com at https://rumble.com/c/c-262921 [1965654] Read posts from Barry Zalma at https://parler.com/ profile / Zalma / posts

Listen to the podcast: Zalma about insurance https://anchor.fm/dashboard/episodesZalma about insurance

Go to Barry Zalma on YouTube- https://www.youtube.com/channel/UCysiZklEtxZsSF9DfC0Expg/

Go to the Insurance Claims Library – https://zalma.com/blog/ Insurance -claims libraries /

https://visitor.r20.constantcontact.com/manage/optin?v=001Gb86hroKqEYVdo-PWnMUkV7pkuOtkiv6oakpgK33CNlNAYW-WBlLCOZFtgvpSdcL7R-tsWKfMVqG6fEuvmM7Hh7gUEJ7yKOdgHDbGl_cGAU%3De-mail version of ZIFL, it is free! –


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