What is insurance fraud?

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14th Jan 2022

Fraud occurs when someone knowingly lies to obtain a benefit or advantage to which they are not otherwise entitled or someone knowingly denies a benefit that is due and to which someone is entitled. Of all the types of fraud , insurance fraud stands out the most.

Fraud is a crime of deception for financial gain and there are many ways to commit fraud. Insurance fraud is an illegal act on the part of either the buyer or seller of an insurance contract. Insurance fraud from the issuer includes selling policies from non-existent companies, failing to submit premiums, and churning policies to create more commissions.

Insurance fraud is a type of criminal act that involves intentionally deceiving or tricking an insurance carrier to obtain payment from the insurance company to which one is not legally entitled. This involves any misuse of insurance policies or applications in order to illegally gain or benefit, an attempt to exploit an insurance contract for financial gain and involves exaggerated or false claims.

Insurance fraud is a serious crime that can result in jail time, fines and the end of your career. If you’ve been accused of insurance fraud in Florida then contact an experienced Miami criminal defense attorney immediately.