American Life Insurance-one of the Most Trusted Company

American Life Insurance the most trusted company which has a reputation of about 87 years. This company is one of the globally recognized life insurance companies and it has a number of branches all over the world which has a vast customer line following. American Life Insurance gives various tax benefits to all its insurance policy holders and it also takes care of all your life insurance related policies like retirement insurance policy, wealth management policy, medical insurance, health insurance etc.

Life insurance basic terms as you know is an important factor in every person's life and when it comes to life insurance age is not the main criteria when it comes to get your life insured. American Life Insurance also known as AIG insurance company and majority of Americans has insured themselves with this life insurance company. The market value of this company is high and you can find the companies ratings in the financial books due to their vast financial transactions with other financial institutes.

There are two major life insurance policies that this AIG Insurance Company deals with i.e. the Term Life Insurance and Whole Life Insurance. In case of Term Life Insurance the policy taken is for a short period of time and Whole Life Insurance is where you get yourself insured for your whole life.

AIG insurance company is one such life insurance company that charters to the needs of the common person. One of the benefits of getting insured in this life insurance company is that you reap a rich harvest of life insurance benefits on all your life insurance policies which no other life insurance company provides you as this company provides you with the benefits when you are still alive.

This life insurance company in order to increase its relationship with their vast flowing customer's have started life insurance online services which has made it easy and convenient for them to get themselves and their family members insured staying within the very comforts of their own house. AIG Insurance is one of the most sought of companies and it is a tough competitor to other life insurance companies.

Legislation seeks to protect seniors from insurance fraud

Gov. Jon S. Corzine signed legislation this week giving consumers a 10-day right to cancel annuity contracts without penalty and requiring licensed annuity sellers to follow marketing and disclosure guidelines.

Known as the Predatory Annuities Prevention Act, the legislation is based on three national model regulations.

An annuity is a contract between a consumer and an insurance company or other entity. The consumer makes a lump-sum payment or series of payments, and in return, the insurer agrees to make periodic payments beginning immediately or in the future.

The bill prohibits those who sell annuities from falsely representing their expertise on marketing materials or risk loss of license. In addition, annuities salespeople are required to fill out disclosure forms that clearly outline the important facts of the purchase to the buyer, the investment objectives and contract terms. The buyer then has a 10-day right to cancel with no financial penalty.

"With nearly $15 trillion dollars invested by people over the age of 50 in this nation, the senior population is very dependent on their investments yet susceptible to disingenuous investment practices. This important bill, spearheaded by our friends at the AARP and embraced by committed legislators, seeks to protect unsuspecting New Jersey seniors from dangerously risky annuities," the governor wrote in a statement.

In the past few years, some insurance companies have been sued over their marketing of annuities, and consumers have alleged they were misled about the products, tricked into overpaying for annuities that eventually paid them much less than expected.

The governor's office estimates Americans lose about $10 billion each year in fraudulent investments.

"This bill will prevent unscrupulous insurance brokers from using inaccurate puffed-up titles such as 'elder financial expert' to describe themselves when selling annuities to seniors," Department of Banking and Insurance Commissioner Steven M. Goldman said.

Primary sponsors of the legislation include state Sens. John H. Adler,
D-Camden, and Robert W. Singer,
R-Burlington, Monmouth, Ocean, Mercer, and Assemblywoman Nilsa Cruz-Perez, D-Camden, Gloucester.

For consumer tips on all types of annuities, visit the Securities and Exchange Commission at:

www.sec.gov/investor/pubs/
varannty.htm

or the Financial Industry Regulatory Authority at:

www.finra.org/Investors/
ProtectYourself/
InvestorAlerts/index.htm

FINRA, the largest nongovernment regulator for all securities firms in the U.S., was created in July 2007 through the consolidation of the National Association of Securities Dealers and the New York Stock Exchange's member regulation, enforcement and arbitration functions.

Consumer Action will respond to each properly submitted letter about a problem or question, either in this column or by letter or phone. Letters must include copies - not originals - of all relevant documentation and a name, address and phone number at which you can be reached. Send letters to: Consumer Action, The Press, 11 Devins Lane, Pleasantville, NJ 08232.

http://www.pressofatlanticcity.com/

Two men plead gulty to insurance fraud

The two admitted crashing a dealers car in 1998 to collect insurance compensation.
Two men accused of setting up a fake accident on the A7 in Murcia in December 1998 in order to collect 6,200 € insurance money, admitted the charge in the Murcia Provincial Court yesterday.
The admission meant that the case against the men no longer needed to continue.

They admitted that one of them crashed and wrote off a showroom car being test driven on purpose alone, but then claimed that it had been hit laterally by the other driver. The two then filed a ‘friendly’ insurance claim, and received 6,200 € in compensation.

They money now has to be repaid, and each have been fined 720 € and handed down a suspended year prison sentence.

http://www.typicallyspanish.com

Taxi driver charged with arson and insurance fraud in Torrevieja

A 34 year old Ecuadorian man also died in the house fire the man is alleged to have planned with the victim.
A local Spanish taxi driver from Benijófar, with the first name of Miguel and owner of the property which saw a fire on September 16 in which a 34 year old Ecuadorian man died, has been arrested by the police. He is accused of planning the fire with the man who died in order to collect the insurance money. Both men are reported to have money problems.

Sources close to the case are reported to say the man faces charges of setting the fire and of fraud, but it is unclear if he will face any further charge given the death of the Ecuadorian.

Instruction Court 2 in Torrevieja extended his detention on remand yesterday after taking his first statement.

http://www.typicallyspanish.com

Conniving couple?

Molemole municipality’s communications manager Timothy Molopa is out on bail.Council boss, wife accused of fraud after claiming R200000 insurance for ‘hijacked’ car

The wife of Timothy Molopa, Molemole municipality’s communications manager who was arrested for a R200000 car insurance fraud, has also been arrested.

The woman is facing charges of fraud and defeating the ends of justice.

Her arrest on Monday follows an intensive investigation into a “stolen” Jeep Cherokee belonging to the couple.

The car was reported hijacked in Polokwane on September 11, but police investigations established that it had crossed the Beitbridge border post into Zimbabwe two days before the hijacking was reported .

On the day it crossed the border the car allegedly had legal papers, which led police to believe that Molopa might have sold it so he could claim from the insurance company.

Polokwane police spokesman Captain Mohlaka Mashiane confirmed yesterday that Moyahabo Gink Molopa, 32, was arrested for fraud and defeating the ends of justice.

Molopa was granted a R500 bail on Monday and the matter was postponed to November 17 for further investigation.

“Our investigations have revealed that the couple assisted each other in defrauding the insurance company,” Mashiane said yesterday.

He said the woman had signed affidavits that confirmed that the car had been stolen.

“We have discovered that the vehicle’s insurance was registered in the woman’s name, which makes her an accessory to the crime,” he said.

The woman is reported to have taken the insurance because the couple has a joint estate. The woman is a radiologist at a Polokwane hospital.

Police investigations were sparked by a R200000 insurance payout after claims that the couple’s car had been hijacked.

Her husband is out on R1000 bail and his next court appearance is on November 27.

Frank Maponya
http://www.sowetan.co.za

New Oxford man gets probation in insurance fraud case

A New Oxford man accused of committing insurance fraud by trying to claim more than $20,000 in lost wages after he said he broke his hand at Bay City Restaurant was given a year of probation for the charges.

Jason J. Dattoli, 35, of the 200 block of High Street, allegedly admitted to police that he filed the false claim "just to try and get some money," according to court documents.

Police said Dattoli told a Bay City manager that he injured his hand while trying to prevent a door from striking his son on Sept. 21.

The next day, Dattoli returned to the restaurant with his hand wrapped in bandages and claimed he couldn't work for six weeks, according to court documents.

Dattoli later filed a lost-wages claim with Liberty Mutual, Bay City's insurance provider, in the amount of $21,270, but an investigation led officials to discover he had been working during the time he was collecting wages.

Dattoli pleaded guilty to criminal attempt to commit insurance fraud and a plea deal was negotiated Tuesday. He will be on probation for a year and was told to repay all costs.

By KATHARINE HARMON
Evening Sun Reporter
http://www.eveningsun.com/

Woman facing charges for insurance fraud

An 8th Ward woman will face Cambria County Court action on charges she lied about $10,000 worth of items being stolen from her residence in order to collect on her renters insurance.

Anna Dorn, 38, of the 1100 block of Boyd Avenue, waived her right to a preliminary hearing on Thursday before District Judge Leonard Grecek of Roxbury. She has been released on bail.

She was charged by Johnstown police with insurance fraud and other offenses.

Police said Dorn reported that her residence was broken into on Sept. 2 with a laptop computer, three digital cameras, jewelry and other items being stolen.

Police said they found no evidence of a forced entry.

Dorn told officers that the rear door was open when she returned home, but she couldn’t remember if she had locked it before leaving.

Dorn made a claim on Sept. 2 for $10,000 in losses to her insurer, Allstate Insurance Co.

During the investigation, police learned that Dorn had hidden the items in her attic.

http://www.tribune-democrat.com

NICB President and CEO Robert M. Bryant to Retire

Susan Q. Hood, Claims Vice President, State Farm Mutual Automobile Insurance Company and
Chair of the Board of Governors (BOG) of the National Insurance Crime Bureau (NICB) announced today that Robert M. "Bear" Bryant will retire as NICB President and Chief Executive Officer, effective at the close of business today, September 2, 2008.

At NICB, Mr. Bryant was the force behind the creation of Medical Fraud Task Forces and the Strategic and Tactical Information Department. He supported cutting-edge technology, such as license plate readers, bait cars and enhanced analytical tools for detecting fraud trends. He was an early and consistent voice nudging the NICB membership toward providing their salvage claims data to the public as a consumer protection against unsafe vehicles. His efforts materialized with the launch of NICB's member-supported VINCheckSM vehicle history service on June 30, 2008 -- a first-of-a-kind free benefit for the public.

In acknowledging the tenure of Mr. Bryant, Ms. Hood stated, "Mr. Bryant was responsible for remaking the NICB into the premier fraud-fighting organization it is today. His leadership, foresight and passion for excellence have touched every facet of NICB's operations delivering
efficiency, effectiveness, and a return on member investment that has grown from 2:1 upon his arrival to 8:1 presently. This is truly phenomenal and I know I speak for the rest of the Board of Governors in wishing Mr. Bryant a satisfying and well-deserved retirement. He will be missed."

The NICB Board elected NICB's Chief Operating Officer, Joseph H. Wehrle, Jr. to succeed Bryant as president and chief executive officer effective at the close of business today, September 2, 2008. "I am honored by the confidence the NICB Board has placed in me and I am excited to have the opportunity to lead this great organization. Thanks to Bob Bryant, the NICB is operationally sound and ready to move to the next level in our continued effort to accomplish our mission of combating insurance fraud and vehicle theft.

"I stand committed to continuing the cooperation that NICB extends to all of our partners including our member insurance companies, the entire property and casualty industry, law enforcement, state fraud bureaus, trade associations and all organizations focused on reducing the impact of fraud on the American public," said Mr. Wehrle.

"As a West Point graduate and retired Air Force Lt. General with over 33 years of service to the nation, Joe Wehrle brings a tremendous record of leadership and accomplishment to the NICB. His ability to attack the fraud problem while leading the NICB benefits from his previous experience as president of USAA Property and Casualty Group. He is uniquely qualified to direct the efforts of the NICB as it extends its excellent record of performance into new and challenging areas of insurance fraud activity," said Ms. Hood.

About NICB: The National Insurance Crime Bureau is the nation's premier not-for-profit organization exclusively dedicated to preventing, detecting and defeating insurance fraud and vehicle theft through information analysis, investigations, training and public awareness. Learn more at www.nicb.org.

Billions recouped in medical fraud

WASHINGTON — Whistle- blowers helped authorities recover at least $9.3 billion from health care providers accused of defrauding states and the federal government, according to an analysis of Justice Department records.

The department ramped up efforts in the 1990s to combat health care fraud by using private citizens with inside knowledge of wrongdoing. They now initiate more than 90 percent of the department's lawsuits focusing on health care fraud.

Whistle-blowers start cases by filing a sealed complaint in federal court. The department investigates the allegation and can intervene, assuming the lead role in the lawsuit. Whistle-blowers then get between 15 percent and 25 percent of the amount recovered.

Of the $9.3 billion recovered between 1996 and 2005, whistle-blowers got more than $1 billion, say analysts, writing for the Annals of Internal Medicine.

The analysts' findings are conservative. Information was available for only about three-quarters of the 379 cases reviewed. Also, some of the largest recoveries have taken place after the period reviewed.

For example, the study doesn't include the single largest settlement, worth $920 million, which came against Tenet Healthcare Corp., one of the nation's largest hospital chains, in 2006.

Still, the study highlights some important trends in health care fraud.

While the number of claims pursued has dropped in recent years, recovery amounts have soared because of a late addition to the cast of defendants — pharmaceutical manufacturers. Recoveries jumped from about $10 million a case in 2002 to $50 million by 2005.

Drugmakers are required to sell products to state Medicaid programs at the "best price" offered in the private marketplace, but the companies might artificially inflate the price, according to the report.

Another common scheme is to market drugs for uses not approved by the Food and Drug Administration.

The report's authors, Aaron S. Kesselheim of Brigham and Women's Hospital in Boston and David M. Studdert of the University of Melbourne in Australia, said data on hundreds of whistle-blower lawsuits should be researched to identify what types of allegations turn out to be legitimate and lead to recoveries so that the department can fast-track such cases.

By Kevin Freking
The Associated Press

Medical identity theft on the rise as health care desperation leads to crime

Although most identity theft cases in the United States involve credit cards and bank accounts, ID thieves are now engaging in medical fraud -- falsely obtaining medical care using someone's stolen identity -- according to today's Los Angeles Times.

After surgery on her shoulder last year, Lind Weaver, a 56-year-old retired schoolteacher, was billed for the amputation of her right foot. Refusing to pay the medical bill collectors, Weaver set about trying to prove that the surgery had obviously not been performed on her -- since her foot was intact -- which proved a more difficult task than recovering from simple credit card ID theft.

Experts say the rising costs of U.S. healthcare are driving medical identity fraud, and many victims are entirely unaware that their medical identity has been stolen unless they receive a hospital bill or an inquiry from their insurance provider. In addition to potentially damaging credit reports and affecting future job status -- since many Fortune 500 companies require access to medical records when hiring or promoting -- medical identity theft can also cause fatal future hospital errors.

For example, Weaver suffered a heart attack in May, and when she awoke in the hospital two days later, a nurse asked her what drugs she was taking to treat her diabetes. Weaver did not suffer from diabetes -- though the woman who stole her identity did -- and diabetes patients receive different heart surgeries than patients without the disease.

However, even if health complications are avoided, medical identity fraud can lead to hellish legal ordeals. In the case of Salt Lake City resident Anndorie Sachs -- whose ID was stolen and used when the thief delivered a baby that tested positive for methamphetamine -- her four children were nearly taken from her by social workers, though she had not given birth for two years. Sachs' case was only resolved after she hired a lawyer and went to the local media. However, when Sachs was admitted to the hospital for a kidney infection last year, the hospital records indicated the wrong blood type, which could have resulted in a fatal error.

Victims of medical identity theft find that clearing their names can be even more difficult than those clearing a traditional credit card ID theft, largely because of laws designed to protect patients' medical records. Once a patient reveals to the hospital or doctor's office that their medical records are somehow tied to someone else's -- even though that person is an identity thief -- their records become much more difficult to access.

The U.S. House and Senate are currently working to pass bills that push wider use of electronic health records, which could potentially make it easier for medical identity theft victims to clear their names.

www.naturalnews.com

MTA officer pleads guilty to insurance fraud

A police officer for the Maryland Transit Administration pleaded guilty in federal court yesterday to mail fraud in a scheme to burn three vehicles owned by transit employees for the insurance money, the U.S. attorney's office for Maryland said.

According to his plea agreement, James Walthall, 41, of Randallstown falsely reported in February 2003 that his 1997 Ford Expedition had been stolen and filed a fraudulent insurance claim. In April 2003, Walthall burned or had someone else burn the vehicle in an attempt to conceal his insurance fraud, prosecutors wrote in court documents.

In December 2003, Walthall helped an MTA bus driver destroy her 2003 Chevrolet Tahoe for a few hundred dollars because she couldn't make the monthly payments, according to court documents. On Jan. 1, 2004, Walthall helped another MTA police officer get rid of his Audi Quattro TT in return for money, the documents say.

Walthall faces a maximum of 20 years in prison. Sentencing has been set for April 28. Walthall has agreed to a mandatory five years in prison as a result of his plea. The 18-year veteran resigned yesterday, a spokeswoman said.

The other MTA employees involved in the scheme pleaded guilty to related crimes but have not been sentenced, prosecutors said. MTA officials said the bus driver continues to work for the MTA but that the other police officer resigned.

By Matthew Dolan
http://www.baltimoresun.com/

Cops: Arsonists plotted insurance fraud

HOBART | Police sought arson charges from the Lake County prosecutors against two men they say destroyed a home Friday as part of a botched insurance fraud scheme.

Michael Mance, of Hobart, and Quentin Clause, of Lake Station, both in their early 20s, face charges of arson with intent to defraud and arson for hire, Hobart Detective Dave Evans said.

Mance, who owns the fire-ravaged home in the 3900 block of Howard Street, is being held in Lake County Jail, Evans said. Clause has not been arrested yet because he is in the burn unit at Loyola University Medical Center.

Evans said Mance hired Clause to set the fire in his house, promising him $1,000 of the insurance money. Police discovered the plot after the suspected arsonist set himself on fire, unintentionally tipping off police.

Emergency crews were called to the one-story house at 7:15 a.m. and found smoke and flames shooting out of the roof.

As investigators were reviewing the scene, Lake Station police overheard scanner traffic referencing the house fire. At the same time, Lake Station police were sending an ambulance to the 2700 block of Gibson Street for a call about a man caught on fire after setting a bonfire, Evans said.

Lake Station called Hobart, mentioning the coincidence.

Evans said Hobart officers went to the Gibson address to investigate, where Clause told police he burned himself setting a bonfire.

When officers found no bonfire burns in the backyard, they confronted Clause, who then confessed to the arson plot, Evans said. Mance eventually confessed after police interviewed him.

Evans said the state fire marshal believes when Clause doused the house with gasoline, he took the gas can out of the house, with the intent of going back in to light the fire.

But the house's hot water tanks turned on, hitting the pilot light and igniting an explosion, Evans said.

Hobart Assistant Fire Chief Steve Mast said the fire caused an estimated $200,000 in damage, which includes the contents.

Clause was not the only injured party in the fire, Evans said. The fire also claimed Mance's 7-foot python.


BY CHRISTINE KRALY
ckraly@nwitimes.com

Car Insurance Referral Fraud

Scams affiliated with car insurance can take many different forms, and they all can cost you a lot of money. All policyholders end up shelling out lots of money for overly priced or improper payments associated with an insurance claim. This means that you end up forking over big money to satisfy somebody else's greed. By being an educated consumer, you can help minimize these scams and help to keep car insurance premiums from rising through the roof. In this article, we will provide tips on how to avoid car insurance referral scams and also help get rid of them.

How do car insurance referral scams work?

A tow truck driver may be paid a finder's fee by a lawyer to refer personal injury car accident victims to them. This is illegal. A lawyer may be on the payroll of a health care provider to refer personal injury accident victims to them, and this also is illegal. A tow truck driver may be paid a finder's fee by an auto body repair shop to have damaged cars brought there. This too is a crime. In the insurance business, these tow truck drivers are called "chasers." It may be unlawful for a tow truck operator to refer an accident victim to a particular repair shop without being asked and especially if they receive a finder's fee for making the referral.

Many auto body repair shops control or own "chasers." It is up to the insurance companies to choose not to do business with these shops. If the insurance company does not recognize the shop to where your car has been towed, your car may need to be taken to another auto body repair shop. Before this occurs, you may need to pay for the towing fee, storage, and perhaps other administrative fees. These fees can add up to the thousands of dollars, and your auto insurance may not cover everything. If you do not wish to pay up, the auto body repair shop can detain your vehicle in accordance with state laws and charge you storage and towing fees, and place a lien on your car and sell it to recover their fees. To recover these referral fees, lawyers, tow truck operators, doctors and hospitals, and auto body repair shops will most likely inflate their bills. Ultimately, it is you, the policyholder that ends up paying through the wazoo.

What can you do to combat auto insurance scams?

Be well informed and educated. If you need the services of a personal injury lawyer, tow truck operator, or doctor, know everything there is to know about your rights as an accident victim. Here is some of advice:

Tow Truck

1. Ensure that the tow truck service has a legal license to operate before you hire their service.
2. Check to see if the tow truck service is associated with a reputable company such as Triple A (AAA) or other automobile organization.
3. Check to see if the tow truck service has a contract with local, county, or state law enforcement agencies.
4. Listen for obvious red flags. Does the driver recommend a particular repair shop without being asked? If he does, this might indicate that he has a financial interest in that repair shop.
5. Be sure to read the fine print on the contract or service invoice that the tow truck driver asks you to sign.
6. Ask the driver to take your car to a secure location where the insurance adjuster or appraiser from your auto insurance company can assess the damages.
7. Call your auto insurance company right away for information on towing services and where to take your car to be repaired.
8. Look into having your car towed to a preferred auto body repair shop. Some auto insurance companies use preferred repair shops where they have a mutual agreement that guarantees that your car will be fixed to the highest possible standards. For more information, call your auto insurance company.

Who can I call to report auto insurance fraud?

If you believe you are a victim of auto insurance fraud, report the incident to your state's insurance commissioner.

Lawyers

1. Ensure that the lawyer to whom you are referred is licensed to practice law in your state.
2. Ask them up front what their rates are and what their payment plan is for your situation and how it will benefit you if you hire their service.
3. Check with your state's bar association for any complaints about them.

Health Care Providers

1. Ask if they are licensed to practice as a health care professional in your state.
2. Ask how much they charge for their services and if they will accept payment from your health or auto insurance companies and not charge any more fees beyond that.
3. Check with the health care provider's state licensing board to see if there have been any complaints lodged against them.

There are many forms of consumer fraud going on nowadays. It is up to you to educate yourself on what is or is not legitimate. Hopefully, our advice will minimize your chances of becoming a victim of auto insurance referral fraud.

By Fabiola Castillo
NinjaCOPS.com