Understanding Insurance Fraud
Common Forms of Insurance Fraud
The most common forms of insurance fraud involve automobiles. They’re either the subject of a fraudulent theft, or a fraudulent accident. One of the most notable cases of auto insurance fraud in Houston involved a 2 million dollar insurance policy & a million dollar Bugatti.
Read more on the Bugatti story at the Houston Chronicle or read our blog posting about our involvement in the investigation.
According to the FBI’s statistics, insurance fraud accounts for over 40 billion dollars in losses annually. With insurance fraud on the rise in the US, that number is expected to rise.
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- Stolen Automobile (Auto Theft) – Includes body shop involvement and/or international sales)
- Auto Accidents – Sometimes, even the witnesses & insurance investigators/adjusters of the accident are in on the scam.
- Auto Damage – Cashing the insurance check and not getting the car fixed is fraud.
- Health Insurance Billing – See Unnecessary Medical Procedures
- Unnecessary Medical Procedures – This is how doctors and medical establishments commit their best frauds.
- Planned/Staged House Fires – This form of staged vandalism is main mechanism for carrying out homeowners insurance fraud.
- Renter’s Insurance – There have been cases where the renter sold their possessions, prior to moving, only to claim theft and attempt to defraud their insurer.
- Storm Claims Fraud – This type of fraud is when a homeowner helps the weather to damage their home, or acts to compliment damage done to the property by weather events. The ultimate goal; getting a larger payout from the insurer.
- Faked Death – We’ve seen it before. A criminal takes out a life insurance on himself and names his spouse or another trusted party as the beneficiary.
During our numerous insurance fraud investigations we’ve captured, on video, claimants performing duties they claimed to be unable to perform as a result of their injuries. We’ve assisted insurance companies in Houston in the investigation of individuals, attorneys, doctors and medical clinics believed to be involved in the organized submission of fraudulent claims.
Our professionally trained field investigators conduct background investigations on claimants aimed at identifying previous claims and credibility issues. Our staff is considered “the best” at locating and taking statements from witnesses. All of our investigators have experience providing useful testimony in court
Our professionally trained field investigators conduct background investigations on claimants aimed at identifying previous claims and credibility issues. Our staff is considered “the best” at locating and taking statements from witnesses. All of our investigators have experience providing useful testimony in court.
Listed below are our clients of ours, whether former or current, who have sought out Gradoni & Associates for investigative services related to insurance fraud solutions.
- Galloway, Johnson, Tompkins, Burr & Smith
- Cozen & O’Connor
- U.S. Department of Veteran Affairs.
- Allstate Insurance
- Galloway, Johnson, Tompkins, Burr & Smith
- Progressive
- Vinson & Elkins
- Zimmerman, Axelrad, Meyer, Stern
- Lorrance & Thompson
- Coats, Rose, Yale, Ryman & Lee
- Legge, Farrow, Kimmitt, & McGrath
- Nelson, McCormick, Hancock & Newton
- Weyerhauser
- Roadway Express
- San Jacinto Methodist Hospital
- Cokinos, Boisen & Young
Listed below are a few random blog entries from our Private Eyes of Texas Newsletter which are related to insurance fraud investigations.
We Used Facebook to Track & ID a Student
The Bugatti Case
The Active Catatonic
Insurance Claims Investigation Leads to a Walmart
500,000.00 Stays in StateFarm’s Hands
The Stolen Benz Investigation
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