Types of First Party Property Fraud

Read the full article at https://www.linkedin.com/pulse/video-describing-some-types-insurance-fraud-barry-zalma-esq-cfe and see the full video at https://rumble.com/vgxehx-a-video-describing-some-types-of-insurance-fraud.html and at https://youtu.be/tFb93xdIr6w and at https://zalma.com/blog plus more than 3700 posts. 

Every first-party property adjuster will face in his or her career attempts to defraud the insurer for whom the adjuster works. It is necessary that the adjuster is aware of each type of property insurance fraud he or she may encounter. Some, but surely not all, fraud types follow:

Arson for Profit

The Staged Theft

Staged Water Damage or Mold Claim

Post-Dating a Loss

This fraud technique involves a loss at a time when an individual has no insurance or inadequate insurance.

Following the loss, the individual applies for insurance, or increases the limits of existing coverage, so he or she has sufficient insurance to cover the loss. After a period of time (usually several weeks), a fraudulent claim is submitted for a loss reported to have happened after the new policy came into effect.