Fictitious Insurance claims
Fictitious insurance claims occur when a policyholder submits a claim to their insurance company for an event or loss that did not occur. This type of fraud can be committed with any type of insurance, including home/domestic, industrial, motor, or medical insurance.
Policyholders who commit false insurance claims can face legal and financial consequences, including criminal charges, fines, and a loss of insurance coverage. It is important for policyholders to be honest and accurate when submitting insurance claims to avoid committing fraud and facing these serious consequences.