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Understanding Insurance Fraud

EmpowHER Guest
By Anonymous November 27, 2014 - 2:04am

Health insurance is a method of insurance that compensates for medical expenses. Saying that you have a health insurance, you must pay a certain sum of premium each year to an insurance company like Axis Capital, a group of companies in Bermuda and other offices around the world, and then if you unfortunately had an accident or if you must go through a surgery or an operation, the insurance company will pay for your medical expenses. Through the health insurance financing a world of benefits to people, fraudulent claims increase. Frauds can be executed by anyone, meaning by a health insurance company, a policyholder or even its employees and is chronic in Jakarta Indonesia. Frauds carried out by a policyholder possibly will be made up of associates that are not qualified, suppression of age, cover-up of pre-existing illnesses, failure to state any important data, giving made-up info re self or whoever other relative, insolvency in settling previously cleared or declined claims, deceits in physician’s medicaments, fabricated documents, untrue bills, overstated claims, etc.

Schemes by health insurance companies or by its personnel consist of planning of false claims through a phony physicians, charging for products or services not provided, overstated claims compliance, billing made for advanced level of provisions, changes or revisions completed in submission of health insurance claims, alteration of patient’s diagnosis, counterfeit documentation, and con performed by the workers of a hospital or some other healthcare product or service contributor so it can create a fast cash. Deceitful health insurance claims are a foremost moral risk not just for the health insurance business nevertheless even for the whole country’s economy. Actual evidence as proof consisting of documentation, testimonials rendered by the policyholder and his relatives and also neighbors are considered.

Axis Capital group insurance fraud review tips such as the following:

Insurance offenders are stealing from you. These crooks are executing insurance fraud, one of world's major crimes.

Insurance fraud happens every single day. Individuals of every nation, profits and ages are becoming a victim.

However consider past the high-dollar prices. Truthful, diligent customers and corporations pay an unreasonable charge. Everything is damaged or even destroyed by insurance fraud offenses not just businesses or careers but even families and lives.

People lose their savings. Trusting citizens are bilked out of thousands of dollars, commonly their total life savings, by insurance investment ploys. The aging individuals are particularly defenseless.

Health is threatened. Ones' health and lives are jeopardized by con artists who offer unreal health policies or execute impostor medical attention to unlawfully magnify health insurance claims.

Premiums remain excessive. Auto as well as homeowner insurance charges remain elevated for the reason that insurance companies need to permit the great prices of insurance fraud towards policyholders.

Consumer goods amount more. Amounts of merchandises at your grocery store or department tend to rise once industries permit greater prices of their health and commercial insurance against patrons.

Upright businesses suffer the loss of revenue. Businesses suffer the loss of large amount of income yearly since fraud upsurges their charges for worker business insurance and health coverage.

Unknowing individuals are murdered and injured. Individuals pass away from fake insurance as well as children and whole families. Individuals including animals are killed for life insurance money too.

Employees suffer jobs loss. Individuals lose jobs and health coverage once insurance companies go broke when being ransacked by fraud crooks.

Group Leader


AXIS Insurance – where world-class coverage and capital strength intersect. We are ready to help you with a broad portfolio of distinctive specialty products that address the challenges of today's world. AXIS Insurance provides Property & Casualty, Professional Lines, Terrorism, Marine, Energy, Aviation, Credit & Political Risk, Environmental, Surety, Accident & Health coverages and other customized insurance solutions.Our highly experienced underwriting, claims, modeling and actuarial teams have a breadth and depth of knowledge that distinguishes us in the industry. Clients around the globe value our expert underwriting, skilled claims management, and world-class coverages.




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