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Archive for August 2011

Interesting News Article : Only one of all the species buys insurance

How Many Species on Earth? It’s Tricky

In the foothills of the Andes Mountains lives a bat the size of a raspberry. In Singapore, there’s a nematode worm that dwells only in the lungs of the changeable lizard.

The bat and the worm have something in common: They are both new to science. Each of them recently received its official scientific name: Myotis diminutus for the bat, Rhabdias singaporensis for the worm.

These are certainly not the last two species that scientists will ever discover. Each year, researchers report more than 15,000 new species, and their workload shows no sign of letting up. “Ask any taxonomist in a museum, and they’ll tell you they have hundreds of species waiting to be described,” says Camilo Mora, a marine ecologist at the University of Hawaii.

Scientists have named and cataloged 1.3 million species. How many more species there are left to discover is a question that has hovered like a cloud over the heads of taxonomists for two centuries. Read the rest of this entry »

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Written by lordsinsurancelog

August 24, 2011 at 8:00 pm

Posted in Insurance News

“Fraud Dog” to Bring Insurance Fraud Cases to Reality TV

Insurance fraud is so big it could be getting its own reality television show.

The show, called the “Fraud Dog,” is in pilot production, and will star Linda Webb, a former AIG insurance claim executive and white collar crime detective turned consultant.

Similar in format to the “America’s Most Wanted” TV series, Webb’s 30-minute reality show will highlight actual fraud cases through re-enactments.

Her production company has already completed some filming in Chicago and New York and is in talks to determine when and where the show will air.

“We sent it out to multiple networks and we’re waiting now to finalize the contracts on which network it’s going to be on,” Webb told ClaimsJournal.com.

Webb hopes the television show catches on because she believes the nation is not taking fraud seriously enough—and needs to understand how fraud affects every business and citizen, not just insurance companies. Read the rest of this entry »

Written by lordsinsurancelog

August 23, 2011 at 6:38 am

Posted in Insurance News

Aruba Probes Insurance In Missing Tourist Case

A U.S. tourist detained in the presumed death of his travel companion had an insurance policy that covered the missing woman, a prosecutor said Wednesday.

Gary Giordano mentioned the travel insurance during questioning, but authorities haven’t determined whether it is relevant to their investigation into 35-year-old Robyn Gardner’s presumed death, Solicitor General Taco Stein told The Associated Press.

The policy included both travelers, but it wasn’t clear whether it covered Gardner’s accidental death, Stein said. Nor was it clear who was the beneficiary.

“If you travel, you take out insurance. That’s not an uncommon thing, to say the least,” Stein said. “It all depends on what’s in the policy.” Read the rest of this entry »

Written by lordsinsurancelog

August 17, 2011 at 11:14 pm

Posted in Insurance News

For Love Or Insurance? Rabbi Seeks Young Wife To Lower Health Costs

When Rabbi Craig Ezring’s annual health insurance costs soared 38 percent this year to a whopping $18,636, he did more than just complain.

He went looking for a young wife.

For several years, the Boca Raton, Fla., rabbi had been getting coverage through a small corporation he formed with his wife. When she died four years ago, he thought the cost of his insurance coverage would drop. Instead it rose. Read the rest of this entry »

Written by lordsinsurancelog

August 17, 2011 at 11:07 pm

Posted in Insurance News

Charlotte woman arrested on insurance fraud charges

A Charlotte woman has been charged with six counts of insurance fraud after she allegedly filed six altered disability claims with Aflac Insurance, the N.C. insurance department announced this morning.

Department investigators arrested Crystal Beasley Walker, 39, on Friday, alleging that between March and December 2009, she filed six altered or fraudulent “Continuation of Disability” claims with the insurance company. She was paid an undisclosed amount of money, the department said.

Walker is under an $8,500 secured bond. Read the rest of this entry »

Written by lordsinsurancelog

August 16, 2011 at 10:34 pm

Posted in Insurance News

W.Va. woman gets 6 mos on insurance-fraud charges

CHARLESTON, W.Va. — A federal judge has sentenced a former Wells Fargo Third Party Administrators employee to six months in prison for fabricating insurance claims for corporate clients.

Pamela Carpenter, of Charleston, W.Va. had pleaded guilty to wire-fraud charges stemming from her creating 28 bogus medical insurance claims for various policyholders. U.S. District Judge John Copenhaver on Monday also sentenced her to six months on home confinement and ordered her to pay nearly $50,000 in restitution – the amount Wells Fargo  lost in the scheme. Read the rest of this entry »

Written by lordsinsurancelog

August 16, 2011 at 10:30 pm

Posted in Insurance News

We All Pay for Auto Insurance Fraud

According to the government of Ontario, the new Auto Insurance Anti-Fraud Task Force will be investigating the cost of auto insurance fraud, its geographic distribution, the best prevention practices in other jurisdictions and a host of other factors that will aid in the development of recommendations aimed at minimizing the level of auto insurance fraud in Ontario via preventative methods and detection programs. If fraudulent claims go down, eventually insurance rates should also start to decrease accordingly. Because a lower insurance rate is something that all consumers have an interest in pursuing, InsuranceHotline.com focuses on this objective.

Currently, the Ontario government estimates that this form of fraud is a billion dollar business in the province. Auto insurance fraud is typically categorized as either opportunistic or premeditated fraud. Some of the most common types of auto insurance fraud include: Read the rest of this entry »

Written by lordsinsurancelog

August 11, 2011 at 11:15 pm

Posted in Insurance News