Question

. Give at least four examples of fraudulent claims

Answer 1

Ans:

1. Inflated claim: In case if any disaster happens homeowner claim insurance of those items whose are not involved in claim. Like , In a earthquake or flood home has damaged but owner also claim that home along with house products are damaged in policyholder bill so company has to cover it.

2. False claim: This type of claim is most common. As in this case a car owner can damage their car intentionally and claim damage for car and also for car owner. As damage is very hard to disprove and car owner accident claim can not be discarded easily insurance company has to pay sum to policyholder.

3. Fake death : Insurance company fraud happen also through fake death. As policyholder will get a lump sum from life insurance claim.

4. Insurance company fraud: Many time a insurance company agent make fraud just by diversion of policyholder premium. Agent do not pay it to the underwriter and agent pocket money of policyholder. Even agent can sell policy of policyholder to fraud policyholder money.