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Insurance fraud comes in many forms and can affect every area of the industry. These articles can help insurance professionals implement mitigation strategies and stop crime in its tracks.
Among this month’s fraudsters, insurance agent Richard Valdriz has been charged with 13 felony counts, including identity theft, forgery and grand theft, after an investigation by the California Department of Insurance found that he had allegedly used the identity of policyholders to renew their auto insurance policies without their knowledge or consent to receive $4,555 in commissions. (Credit: designer491/Shutterstock)Fraud will always be a problem in the insurance industry. Someone, somewhere, will always try to game the system to their advantage. In a densely populated state like California, there will never be a shortage of individuals who are willing to engage in illegal activity.
But few criminals ever elude the law forever. California’s Department of Insurance, in conjunction with law enforcement agencies and other concerned parties, works to weed out such individuals.
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Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected]
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