Insurance scams are a leaving corporate fraud problem in the United States. Insurance Fraud is intentionally obtaining funds from an insurance company for a purposeful act that is fraudulent. These types of frauds not only cost companies billions of dollars annually, but can affect the lives of innocent by standers as well. The Coalition against Insurance Fraud estimates that in 2006 a total of about $80 billion was lost in the United States due to insurance fraud.

Let’s look at an example of corporate fraud that affects the insurance market. People have faked their death to benefit from life insurance. In 2002, a gentleman named John Darwin supposedly died in a canoeing accident. Well, in 2007 he turned up claiming no memory of the last 5 years.

Medical disability is also one of the leading corporate fraud scams for insurance companies and worker’s compensation. Say an employee is able to convince a medical professional they are unable to work due to an injury they sustained while on the job. Not only is the company out worker’s compensation monies, but the government is out disability funds if they employee claims they cannot ever work! My dream job would be follow these folks around that are capable of holding a job but defrauding the government for disability and take photos of them roofing their house or shopping for shoes for 12 hours.

Corporate fraud in the insurance market is one of the hardest to prove. Do you think your corporation, insurance company or otherwise, have been the victim of Fraud? Contact us call 1.770.426.0547 – Atlanta Georgia