https://padlet.com/jtweedale2023/dmegvpaoe1sjf08y What specific life and property insurance frauds are investigators most likely to investigate and why? en-us 2023-05-04 12:21:36 UTC 2025-12-26 16:01:25 UTC hello@padlet.com jtweedale2023 https://padlet.com/jtweedale2023/dmegvpaoe1sjf08y/wish/2578215297 While much more than an insurance fraud investigator, our main character Dr. Keaton is a professor in archeology at a japanese university and a former member of the S.A.S. british army in survival combat. Keaton states at the start of the story "...life insurance on the other, which is nothing other than betting money on the probability of people - the insured - dying or not dying within a given period of time."(p.2) This would foreshadow the suicide attempt of another character later on and explains an exemption of "...a life insurance policy is when the insured person commits suicide within one year of the policy taking effect."(p.178) At the start of the story, Keaton travels to the Dodecanese islands in Greece to investigate a possible life insurance fraud. The most prevalent factor to this fraud was murder of the policyholder and the reason behind this is a beneficiary was connected to the man who was murdered. All these facts, intertwined with the compelling adventures Keaton was in, helped me better understand the world of insurance fraud.]]> 2023-05-04 12:41:53 UTC https://padlet.com/jtweedale2023/dmegvpaoe1sjf08y/wish/2578215297 jtweedale2023 https://padlet.com/jtweedale2023/dmegvpaoe1sjf08y/wish/2578236505 In California in March of 2020, unemployment insurance claims surged to high levels and elevated claim levels persisted through October 2020. Along with this, the Employment Development Department (EDD) had to pay for organized crime rings and prison inmates that filed thousands of fraudulent claims for benefits. Because of the EDD juggling these situations and the additional problem of being unprepared in March 2020 because of Covid-19, disaster struck. When the EDD provided $100-plus billion in state and federal benefits, 10% of it was fradulent. Similar to the newspaper source, this documentary helped me better understand the real life implications of insurance fraud on people and the general public.]]> 2023-05-04 12:58:25 UTC https://padlet.com/jtweedale2023/dmegvpaoe1sjf08y/wish/2578236505 jtweedale2023 https://padlet.com/jtweedale2023/dmegvpaoe1sjf08y/wish/2582110915 Insurance fraud can intentionally happen, whether it is a life or property matter. People can put themselves in more danger at times if they know they are insured. Tykocinski explains this is the magic of insurance; having it can somehow bring the sense that nothing bad will happen to someone as long as they are insured. Having insurance can often mean pleasing one's psyche more than protecting their wallet. While this Ted Talk didn't directly talk about insurance fraud, it underlined what makes having insurance so important to us all, and that can lead people to commiting fraud to reap the benefits illegally to feel safe and secure.]]> 2023-05-08 13:55:48 UTC https://padlet.com/jtweedale2023/dmegvpaoe1sjf08y/wish/2582110915 jtweedale2023 https://padlet.com/jtweedale2023/dmegvpaoe1sjf08y/wish/2591335534 These statistics address the data collected from auto, home, life, and health insurance fraud. While auto and health insurance are not part of my research question, they are helpful as a comparison to life and property insurance frauds. For the types of fraud, there are only two kinds of it: soft or hard fraud. Soft fraud is when an opportunity arises for someone to take advantage of an existing situation. Hard fraud happens when a person or group will create an opportunity to get an insurance payout, meaning it is premeditated. Among all the catagories of insurance for fraud to occur, life insurance had the largest cost in damages at $74.7 billion. A couple ways of life insurance fraud to be commited are lying on a life insurance application or insurance agents or industry workers stealing premiums instead of sending them to the life insurance company. On the other hand, property or home insurance fraud can happen by lying about the damage to your home or faking a burglary in order to make a claim. These methods are often the reason investigators would make on life and property insurance fraud.]]> 2023-05-15 13:33:59 UTC https://padlet.com/jtweedale2023/dmegvpaoe1sjf08y/wish/2591335534 jtweedale2023 https://padlet.com/jtweedale2023/dmegvpaoe1sjf08y/wish/2591344619 A former Navy chief petty officer was found to have engaged in life insurance fraud working with two other people. How he did it was he reported fake or exaggerated injuries or disabilities in order to get life insurance payments. This would be considered a hard fraud (as mentioned from data source) because he created the situations. Much investigating took place to charge the former officer and his associates to indict them in January 2019. His fraudulent claims went back to 2012 through 2015. This case is a prime example of how an insurance fraud scheme can play out in real life.]]> 2023-05-15 13:39:55 UTC https://padlet.com/jtweedale2023/dmegvpaoe1sjf08y/wish/2591344619