BROADCASTS.com

b'

A True Crime Story of Insurance Fraud Number 19  

No one could be more popular than a person who steals from the rich to  give to the poor. Since the Robin Hood legend was first told in Medieval  England, the noble thief is the most popular fantasy.  The public perceives insurers to be rich. Insurers build the towers  downtown. Insurers are perceived to take premiums from poor  policyholders and never pay claims. When someone steals from an insurer  the public cheers. They want to believe the thief is like the noble  Robin Hood stealing from the rich to give to the poor. Their dislike for  the insurer who refused to pay for the damage to their house when an  earthquake struck clouds their judgment.  An insurance criminal is as much a thief as the person who uses a gun to  take cash out of the convenience store\\u2019s register. The insurance  industry, and every person involved in it, must convince the public that  Robin Hood is dead and was just a thief.  The insurance criminal does not steal from rich, impersonal insurance  companies. The insurance criminal steals from every person who buys  insurance. Until the word gets out, the public will continue to make the  fortunes of criminals. It is inevitable that the person we will call  Robin Hood will continue to succeed. Crime against insurers pays well.  Robin was an affluent manufacturer of children\\u2019s clothing. He lived in  Beverly Hills in a modest two-million-dollar home without a mortgage.  His line was popular. His personal income was never less than six  figures and, in many years, exceeded seven. He was popular. He hosted a  regular poker game at his house that were attended by his wealthy  neighbors. They always played nickel-dime poker and no one ever lost  much money. They gathered for company and conversation.  One of the poker players was a lawyer who represented major corporations  including insurance companies. During the poker game the lawyer could  not relax. He seemed furious and whether he won or lost would slam his  cards down on the table. Finally, one of the other players asked what  was bothering him.  \\u201cThe jury system is totally out of control\\u201d Coming from a lawyer they  knew always tried cases before juries the statement was a shocking  surprise. The players pressed the lawyer for more information. He said:  \\u201cYesterday, a jury in Compton came in with a $30,000,000 verdict against  one of my clients, Pay Fast Insurance. They asked me to see if the  judgment can be set aside on appeal. I \\u2019think it can, at least  partially. It\\u2019s ridiculous. The insured committed fraud. He had a  legitimate burglary but he made claim for the theft of more items that  could possibly fit in his house. The jury even agreed, they found that  the claim he made was for twice what he lost. They still gave him  punitive damages. The jury thought the insurance company gave the  insured a hard time. It\\u2019s disgusting. They just want to punish all  insurance companies even if they were right in rejecting the claim.