BUISENESS MANAGEMENT
INSURANCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Filing a claim if you are injured while at work
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Purposely making untrue statements on your insurance application
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Claiming your property was stolen when really you lost it
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Exaggerating the extent of your injury or accident
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Detailed explanation-1: -Common frauds include “padding” (inflating claims), misrepresenting facts on an insurance application, submitting claims for injuries or damage that never occurred, and staging accidents.
Detailed explanation-2: -Fraudulence is telling lies or hoaxing people in some way. One example of fraudulence might be pretending to be a police officer, and another is claiming to have the ability to communicate with people who have died, especially if you’re taking money from relatives who hope to send them messages.
Detailed explanation-3: -Hard fraud refers to a situation in which someone plans or invents a loss for a claim payout. These crimes can result in jail time. Specific examples of hard fraud include: Staged auto accidents-When a driver plans to force another driver into a collision and a planted witness tells police the victim is at fault.