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Why Small Frauds Cost the Insurance Industry the Most  

https://zalma.com/blog

Barry Zalma, Esq., CFE presents videos so you can learn how insurance  fraud is perpetrated and what is necessary to deter or defeat insurance  fraud. This Video Blog of True Crime Stories of Insurance Fraud with the  names and places changed to protect the guilty are all based upon  investigations conducted by me and fictionalized to create a learning  environment for claims personnel, SIU investigators, insurers, police,  and lawyers better understand insurance fraud and weapons that can be  used to deter or defeat a fraudulent insurance claim.  See the full video at  and at  The Birth of a Serial Insurance Fraudster  

The claimant wore plastic framed eye-glasses with thick lenses. He  literally fell into a life of insurance crime and fraud.  One day the claimant was walking past a fine restaurant when he fell and  broke the frames of his glasses. The manager saw him fall. She rushed  out, helped him to his feet and checked his physical condition. He  thought he was uninjured but the frames of his glasses had broken at the  bridge.  The restaurant manager, fearful of a lawsuit, offered him lunch on the  house and asked the cost of the frames. When he told her $80.00, she  went to the register and brought him four crisp twenty-dollar bills. The  claimant could not believe his good fortune. It was so easy. From that  day on he made a good living from many small frauds.  Eighty dollars seems a small amount to avoid a lawsuit. 

The claimant,  with multiple eighty-dollar claims, would average, in the two months he  would limit himself to in any community, $2500 a day. His collections  were either in person or by mail. He almost never bought a meal.  He was small stuff and no one wanted to bother with. Yet he stole, in  his own small way, more than $600,000 a year. He took long vacations  from his job. He stayed in the best resorts. He lived the good life  because an $80 fraud is just too small to bother businesses, insurers,  police and fraud investigators.  

\\xa9 2022 \\u2013 Barry Zalma  Barry Zalma, Esq., CFE, now limits his practice to service as an  insurance consultant specializing in insurance coverage, insurance  claims handling, insurance bad faith and insurance fraud almost equally  for insurers and policyholders.  

He practiced law in California for more than 44 years as an insurance  coverage and claims handling lawyer and more than 54 years in the  insurance business.  Subscribe to \\u201cZalma on Insurance\\u201d at https://zalmaoninsurance.locals.com/subscribe and \\u201cExcellence in Claims Handling\\u201d at https://barryzalma.substack.com/welcome.   

You can contact Mr. Zalma at https://www.zalma.com, https://www.claimschool.com,  zalma@claimschool.com and zalma@zalma.com . Mr. Zalma is the first  recipient of the first annual Claims Magazine/ACE Legend Award.  You may find interesting the podcast \\u201cZalma On Insurance\\u201d at https://anchor.fm/barry-zalma;  you can follow Mr. Zalma on Twitter at; you should  see Barry Zalma\\u2019s videos on https://www.youtube.com/channel/UCysiZklEtxZsSF9DfC0Expg/featured; or videos on https://rumble.com/zalma. Go to the Insurance Claims Library \\u2013 https://zalma.com/blog/insurance-claims\\u2013library/ The last two issues of ZIFL are available at https://zalma.com/zalmas-insurance-fraud-letter-2/