Insurance fraud has reached epidemic proportions. A booming criminal industry, insurance fraud affects all Americans and costs them approximately $80 billion annually.
Unfortunately, it is difficult to gauge the precise extent of insurance fraud since much of it goes undetected. What is known is that insurance fraud is rampant and expensive. And with technological advancements such as the Internet - where swindlers who are virtually untraceable can deceive unsuspecting consumers - the incidence of insurance fraud is expected to increase.
There are various types of insurance fraud. Some people have been bilked out of entire savings by insurance investment schemes - to which the elderly are particularly vulnerable. Sometimes people are defrauded by con artists who sell fake health insurance policies to unwitting consumers. And there are times when insurance companies illegally inflate premiums or habitually over-bill policyholders.
If you feel you have been the victim of insurance fraud, seeking the early advice of an experienced consumer fraud attorney is the best way to ensure that your legal rights are protected. Please contact us to speak with a qualified lawyer who can help you understand your legal rights and options. You may be eligible to seek compensation through a consumer fraud lawsuit.
Insurance Fraud and the Law
Insurance fraud is illegal in all states. In fact, the rapidly growing incidence of insurance fraud has led many states - at least 37 - to set up fraud bureaus. The level of seriousness attached to the crime of insurance fraud varies according to state. Some states consider insurance fraud a felony, while others only classify it as a felony in cases involving more than a specified dollar amount. Some states classify insurance fraud as a misdemeanor - or lower level of crime. The bottom line is that insurance fraud is a crime and consumers who have been defrauded may have the right to pursue legal action.
Depending on the circumstances, victims of insurance fraud may be eligible to file a consumer fraud lawsuit through which they can recover damages including court costs and attorney fees. A group of consumers who have been similarly defrauded may be able to file a class action lawsuit. It is important to note, however, that all consumer fraud lawsuits are subject to a statute of limitations, which vary by state and restrict the time an individual has to file a claim. For this reason it is important to contact a qualified attorney early to preserve your legal rights.
Chances are that if you have been a victim of insurance fraud, someone else has too. In order to help yourself and others, you wish to file a complaint with the Federal Trade Commission - the federal agency that handles consumer issues. The FTC does not resolve individual cases, but it does investigate reports of fraud and enforces the law. You may also wish to contact a qualified consumer fraud attorney who can evaluate your claim and help you determine a course of action.
Contact us today to speak with one of our consumer advocates who can help you understand and protect your legal rights.