Trying to find the best insurance fraud attorney? You’re not alone. Insurance has become a trillion-dollar industry. According to the Coalition Against Insurance Fraud, over $80 billion in fraudulent insurance claims are filed annually in the United States. The impact for consumers is tighter scrutiny, higher premiums, and wrongfully denied claims. Unfortunately, valid claims are denied all too frequently, as a result. If you’re wondering how to find the best insurance fraud attorney in Brookings, look no further.
In this article, we’ll walk through insurance fraud versus bad faith insurance, the types of insurance fraud, and when to consult an insurance attorney.
Insurance Fraud Versus Bad Faith Insurance
Did you know both consumers and insurance companies commit insurance fraud? When insurance companies commit this crime, it’s called bad faith insurance. This occurs when an insurer attempts to revoke its obligation to its clients either by refusing to pay a legitimate claim or investigate and process the claim within a reasonable time period.
Another side of the insurance fraud coin is when a policyholder has been accused of insurance fraud. While consumer fraud does happen, many times the accused has no idea what they’ve done wrong. You may be taken completely off guard and stuck trying to figure out how to find the best insurance fraud attorney in Brookings. If you’ve been accused of insurance fraud, don’t hesitate– contact an insurance attorney now.
Types of Insurance Fraud
As expected with a billion-dollar industry, there are multiple types of insurance fraud and multiple parties who can commit it. In addition to insurance companies and policyholders committing fraud, so too can third-party claimants, insurance brokers, and other professionals who service claimants. Some ways that people have committed or been accused of insurance fraud are:
- Claims fraud – This is one of the most common types of fraud. This occurs when the insured makes a claim that never happened or was staged. A common example of this is when a slip-and-fall injury is staged.
- Death fraud – This happens when a policyholder fakes his/her own death in order to receive a life insurance payout.
- Application fraud – Knowingly including false information on an application can also be fraud or material misrepresentation. It’s important to be as honest as possible on insurance applications. Many insurance fraud cases stem from these mistakes.
- Inflated claims – This might occur in the case of a natural disaster with fraudulent homeowners submitting claims for homes that were unaffected by the disaster. An example of this is the $6 billion that the FBI estimated was lost to fraudulent claims after Hurricane Katrina.
- Bad faith insurance claims – This happens when the insurance company commits fraudulent activity, such as denying valid insurance claims, denying coverage to people for conditions that should be covered, failing to properly investigate claims, and purposely underpaying claims.
Knowing about different types of insurance fraud can help you understand why you may have been charged. Fraud is a serious charge that could result in claim denial, rejected insurance applications, sky-high premiums, and prosecution. If you’ve been accused, contact an insurance attorney today to help you navigate this precarious situation.
What if the Insurance Company Is Acting in Bad Faith?
Do you believe your insurance company is acting in bad faith? There are signs your provider is being deceptive, like delaying an investigation into your claim or conducting an insufficient investigation. Another indication is low compensation offers.
Don’t settle for less than you deser— insurance companies are known to engage in bullying tactics to get you to accept a low-ball offer to save themselves money. Additionally, if your valid claim has been denied, it could be a sign of bad faith. Don’t let a denied claim go; follow up with your attorney to ensure there’s nothing malevolent or suspicious happening. Lastly, failure to deny or approve a claim in a reasonable time period could be a sign something strange is going on with your insurance claim. Insurance companies may lag hoping that you’ll forget about the claim and not follow up.
If you’re experiencing any of the above, contact an attorney today to ensure your insurance provider isn’t being fraudulent.
How To Know When an Insurance Company Is Investigating You for Fraud
Are you worried an insurance company might be trying to accuse you of fraud? With providers becoming more and more vigilant about fraud and billions of dollars in jeopardy, innocent policyholders can be wrongly accused of fraud simply to intimidate policyholders and claimants. If you have suspicions this may be happening to you, keep reading. Here are some signs you may be under investigation for fraud:
- Your claim has been denied. – This is often the first sign. While this isn’t always a sign you’re being investigated, it’s always important to follow up on a denied claim. There could be an honest mistake on the application or missing information. It could also be a sign your insurance company is engaging in bad faith insurance.
- Your loved ones are being contacted. – Insurance companies begin to dig deeper into your life when they suspect fraud. If your friends and family have been contacted, it’s time to reach out to an insurance attorney. The provider may also be searching for a reason to deny your claim.
- You accidentally included false information on your claim. – Mistakes happen. The insurance claims process can be complex, which can lead to more mistakes. If you’ve found a mistake, contact an attorney immediately to protect yourself from possible charges.
If you’ve been falsely accused of insurance fraud or are afraid you are being investigated, you may be wondering how to find the best insurance fraud attorney in Brookings. Look no further, and contact Turbak Law Office today.
When It’s Time To Get an Insurance Fraud Attorney in South Dakota
Insurance fraud is a serious offense. Don’t wait until it’s too late. Getting an attorney on your side is important if you have been accused of fraud, or if you think your insurance company is engaging in bad faith. A lawyer can strategize a legal defense to help you avoid wrongful conviction. Give us a call at 605-886-8361 or contact Turbak Law online today to schedule a free consultation.