Insurance fraud is a misrepresentation of material fact in the context of an insurance contract for the purpose of financial gain. It can occur in life insurance, health insurance, auto insurance, home insurance, mortgage insurance and any other type of insurance. Accusations of insurance fraud can result in a civil lawsuit for damages as well as prosecution in state or federal criminal court.
Insurance fraud is a serious criminal charge. Contact us immediately if you have been charged with an insurance fraud crime. We will gather evidence and start building a case for you.
As Orlando insurance fraud defense attorneys, we have focused on criminal justice matters exclusively throughout our careers. We are both former prosecutors with a wealth of experience handling complex criminal fraud matters. At Moses and Rooth Attorneys at Law, we will sit down with you at your free initial consultation, learn about your case and advise you as to your rights and options. Then, we will walk you through the entire process to help you get the most lenient sentence and the best possible results in your case.
Types of Insurance Fraud
Some popular forms of insurance fraud include:
- False claims — This means fabricating a claim completely. No covered loss occurred and nothing was really destroyed, yet the policyholder claims that property was destroyed or stolen.
- Bloated claims — This means overestimating the value of loss. When a real covered loss occurs, many policyholders will misrepresent the true value of the loss for financial gain.
- Misreporting — This means overestimating property value at the front end. When registering property to be insured, many people will misrepresent the value of the property. If a covered loss occurs, they receive compensation from the insurance company that is far greater than what the property is really worth.
There are many other insurance frauds as well, some involving a single individual policyholder, and some involving many participants in organized fraud.