The Baseball Card Scam
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Insurance Fraud Costs Everyone\\n\\nFictionalized True Crime Story of Insurance Fraud from an Expert who \\nexplains why Insurance Fraud is a \\u201cHeads I Win, Tails You Lose\\u201d \\nsituation for Insurers. The story that follows are designed to help \\neveryone Understand How Insurance Fraud in America is Costing Everyone \\nwho Buys Insurance Thousands of Dollars Every year and Why Insurance \\nFraud is Safer and More Profitable for the \\xad\\xad\\xadPerpetrators than any \\nOther Crime.\\n\\nThe insurance industry, unintentionally, instructs its insureds how to \\nsuccessfully perpetrate insurance fraud. Insurers encourage fraud by:\\n\\n1. decimating its professional claim staff by short-sighted cost \\ncutting.\\n2. by selling insurance to persons unknown to the company or the broker.\\n3 by accepting the word of new applicants without a pre-risk survey.\\n4 by allowing threats of bad faith lawsuits to intimidate the company \\ninto a quick settlement.\\n\\nWhy A Retail Baseball Card Store Was an Invitation to Fraud\\n\\nThe husband and wife had failed in several tries to conduct a profitable\\n retail business. They simultaneously closed their comic book store and \\nopened a new business called Out In Left Field where they sold baseball \\ncards in the 1980\\u2019s at the apex of the baseball card fad. They located \\nin a new, strip shopping center, in a residential area of Fresno, \\nCalifornia.\\n\\n\\nThis type of loss will continue to occur as long as insurers fail to \\nmaintain adequately trained claims and underwriting staff. If insurers \\ncontinue to accept insureds at face value without any pre-risk \\ninspections or investigation this type of loss will multiply. Insurance \\nagents and brokers will have their loss ratios increase logarithmically.\\n Profits will fall because they did not inspect and control the risks \\nthey insure.\\n\\nAdapted from my book, Insurance Fraud Costs Everyone\\xa0Available as a Kindle Book and a Paperback from Amazon.com.\\n\\n
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