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AARP is an interest group in the United States focusing on issues affecting those over the age of fifty. The organization said it had more than 38 million members in 2018. The magazine and bulletin it sends to its members are the two largest-circulation publications in the United States.
Vehicle insurance is insurance for cars, trucks, motorcycles, and other road vehicles. Its primary use is to provide financial protection against physical damage or bodily injury resulting from traffic collisions and against liability that could also arise from incidents in a vehicle. Vehicle insurance may additionally offer financial protection against theft of the vehicle, and against damage to the vehicle sustained from events other than traffic collisions, such as keying, weather or natural disasters, and damage sustained by colliding with stationary objects. The specific terms of vehicle insurance vary with legal regulations in each region.
Home insurance, also commonly called homeowner's insurance, is a type of property insurance that covers a private residence. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one's home, its contents, loss of use, or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory.
State Farm Insurance is a group of mutual insurance companies throughout the United States with corporate headquarters in Bloomington, Illinois. Founded in 1922, it is the largest property, casualty, and auto insurance provider in the United States.
Insurance fraud is any act committed to defraud an insurance process. It occurs when a claimant attempts to obtain some benefit or advantage they are not entitled to, or when an insurer knowingly denies some benefit that is due. According to the United States Federal Bureau of Investigation, the most common schemes include premium diversion, fee churning, asset diversion, and workers compensation fraud. Perpetrators in the schemes can be insurance company employees or claimants. False insurance claims are insurance claims filed with the fraudulent intention towards an insurance provider.
The term managed care or managed healthcare is used in the United States to describe a group of activities intended to reduce the cost of providing health care and providing American health insurance while improving the quality of that care. It has become the predominant system of delivering and receiving American health care since its implementation in the early 1980s, and has been largely unaffected by the Affordable Care Act of 2010.
...intended to reduce unnecessary health care costs through a variety of mechanisms, including: economic incentives for physicians and patients to select less costly forms of care; programs for reviewing the medical necessity of specific services; increased beneficiary cost sharing; controls on inpatient admissions and lengths of stay; the establishment of cost-sharing incentives for outpatient surgery; selective contracting with health care providers; and the intensive management of high-cost health care cases. The programs may be provided in a variety of settings, such as Health Maintenance Organizations and Preferred Provider Organizations.
A fidelity bond or fidelity guarantee is a form of insurance protection that covers policyholders for losses that they incur as a result of fraudulent acts by specified individuals. It usually insures a business for losses caused by the dishonest acts of its employees.
Farmers Insurance Group is an American insurer group of vehicles, homes and small businesses and also provides other insurance and financial services products. Farmers Insurance has more than 48,000 exclusive and independent agents and approximately 21,000 employees. Farmers is the trade name for three reciprocal insurers, Farmers, Fire, and Truck owned by their respective policyholders. The non-claims activities of Farmers are managed by an attorney in fact, Farmers Group Inc, which is a wholly owned subsidiary of Swiss-based Zurich Insurance Group.
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Medicare Advantage is a capitated program for providing Medicare benefits in the United States. Under Part C, Medicare pays a sponsor a fixed payment. The sponsor then pays for the health care expenses of enrollees. Sponsors are allowed to vary the benefits from those provided by Medicare's Parts A and B as long as they provide the actuarial equivalent of those programs. The sponsors vary from primarily integrated health delivery systems to unions to other types of non profit charities to insurance companies. The largest sponsor is a hybrid: the non profit charity AARP using UnitedHealth.
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Stranger-originated life insurance ("STOLI") generally means any act, practice, or arrangement, at or prior to policy issuance, to initiate or facilitate the issuance of a life insurance policy for the intended benefit of a person who, at the time of policy origination, does not have an insurable interest in the life of the insured under the laws of the applicable state. This includes the purchase of life insurance with resources or guarantees from or through a person that, at the time of policy initiation, could not lawfully initiate the policy; an arrangement or other agreement to transfer ownership of the policy or the policy benefits to another person; or a trust or similar arrangement that is used directly or indirectly for the purpose of purchasing one or more policies for the intended benefit of another person in a manner that violates the insurable interest laws of the state. The main characteristic of a STOLI transaction is that the insurance is purchased solely as an investment vehicle, rather than for the benefit of the policy owner's beneficiaries. STOLI arrangements are typically promoted to consumers between the age of 65 and 85.
Consumer Watchdog is a non-profit, progressive organization which advocates for taxpayer and consumer interests, with a focus on insurance, health care, political reform, privacy and energy.
The New Jersey Department of Banking and Insurance (DOBI) is one of 15 principal departments in New Jersey government. The department's mission is to regulate the banking, insurance and real estate industries in a professional and timely manner that protects and educates consumers and promotes the growth, financial stability and efficiency of these industries. The Commissioner of DOBI is Marlene Caride.
A staged crash is when criminals maneuver unsuspecting motorists into crashes in order to make false insurance claims. The cars generally suffer little damage in relation to the large demand that is then fraudulently submitted.
Elder financial abuse is a type of elder abuse in which misappropriation of financial resources or abusive use of financial control, in the context of a relationship where there is an expectation of trust, causes harm to an older person.
California voters passed Proposition 103 on November 8, 1988. It in effect made insurance companies require "prior approval" from the California Department of Insurance before implementing property and casualty insurance rates. It passed with 51% of the vote.
References
- ↑ “A New Weapon In The Fight Against Fraud”. National Underwriter Property & Casualty-Risk & Benefits Management Journal, July 1993, p. 26.
- 1 2 Brostoff, Steven. “New Anti-Fraud Coalition Formed”. National Underwriter Property & Casualty-Risk & Benefits Management Journal, 1993, p. 46.
- ↑ Kopit, Alan (April 23, 2004). "Don't fall prey to health insurance fraud". MSNBC. Archived from the original on February 10, 2010.
- ↑ "Fraud Survey" (PDF). KPMG Forsenic. 2003.
- ↑ Schrenk, Edward L. (1997). "Fraud and Its Effects on the Insurance Industry". Defense Counsel Journal. 64: 64.
- ↑ Staff (2011). "Geico and NCL Join CAIF". Property Casualty 360.
- 1 2 Archived June 26, 2012, at the Wayback Machine
- ↑ Archived February 19, 2012, at the Wayback Machine
- ↑ Dennis Jay; Jim Quiggle. "Model insurance fraud act". Insurancefraud.org. Archived from the original on 2012-05-01. Retrieved 2014-02-07.
- ↑ Dennis Jay; Jim Quiggle; Howard Goldblatt; Kendra Smith; Jennifer Tchinnosian. "Legislation". Insurancefraud.org. Archived from the original on 2012-11-25. Retrieved 2014-02-07.
- ↑ Archived May 1, 2012, at the Wayback Machine
- ↑ "Research". Archived from the original on 2012-05-01. Retrieved 2012-05-16.
- ↑ "JIFA". Insurancefraud.org. Retrieved 2014-02-07.
- ↑ Coalition, Staff. “Get a Grip on Fraud”, December 2009, Washington D.C.
- ↑ Jay, Dennis, Effectiveness of warnings on benefit checks”, October 2000
- ↑ Coalition, Staff (October 1997), Four faces: why Americans do and don't tolerate fraud (PDF), Insurancefraud.org, archived from the original (PDF) on 2012-05-02, retrieved 2012-10-09
- ↑ Coalition, Staff. “Insurer Fraud Measurement”, December 2004
- ↑ Coalition, Staff. “Prescription for Peril”, December 2007
- ↑ Coalition, Staff (June 2003). "Study on SIU Performance Measurement" (PDF). Insurancefraud.org.
- ↑ Coalition, Saff. “State Insurance Frauds Bureaus, A Progress Report: 2001 to 2006”, February 2007, Washington D.C.
- ↑ Dennis Jay; Jim Quiggle. "Scam alerts". Insurancefraud.org. Archived from the original on 2012-08-09. Retrieved 2014-02-07.
- ↑ Dennis Jay; Jim Quiggle. "News release". Insurancefraud.org. Retrieved 2014-02-07.