Insurance Fraud

Insurance fraud is a deliberate act of deceiving an insurance company for financial gain. It can be committed by policyholders, insurance agents, or anyone else involved in the insurance process.

Examples of insurance fraud include filing false claims, exaggerating damages or injuries, and staging accidents or thefts. Insurance fraud is a criminal offense and can result in legal penalties, including fines and imprisonment.

It also results in higher premiums for all policyholders as insurers pass on the cost of fraudulent claims to their customers.