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The Phantom Rolls Royce 

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.  The Auto Theft Fraud  In many states, before a car can be insured, the agent must photograph  the car and its vehicle identification number. This regulation is an  effective weapon against fraudulent auto theft claims.  The insured managed to purchase material damage insurance on a Rolls  Royce in a state where the regulation was fully effective even though he  never owned a Rolls Royce automobile. His technique was flawless. His  planning immaculate. He was only thwarted in his efforts because of the  actions of a dedicated and thorough investigator.  To start his plan, the insured went to a Beverly Hills classic  automobile dealer and took two Polaroid photographs (slightly out of  focus) of a 1946 Rolls Royce. Unlike modern cars, the vehicle  identification number was not in the windshield of the Rolls. It was,  however, written on the specification sheet provided to him by the  dealer.  He produced a bill of sale purportedly signed by the neighbor reflecting  a $100,000 sale. The insured produced the ownership certificate and the  registration establishing the vehicle existed. He claimed to have  forgotten to bring with him the keys to the vehicle. Counsel then  presented the true documents, item by item.  The insured claimed that the documents recorded at the Department of  Motor Vehicles were filed by the seller and he had no knowledge of the  changes made by the seller. In fact, he could not understand why the  seller had filed such strange documents.  After counsel had established, with certainly in counsel\\u2019s mind, that  the insured had sworn falsely, the examination under oath was  terminated. Counsel met with the attorney for the insured, privately,  and explained that the insured\\u2019s claim was in great peril.  

The attorney for the insured responded:  \\u201cThe bad faith lawsuit I told you to expect will not be filed by me.\\u201d  The insured had made one serious error: he hired an honest lawyer. His  lawyer and counsel for the Classic Car Insurance Company discussed  possible resolution of the matter, including the withdrawal of the claim  or a mutual rescission of the policy. Counsel for the insured promised  to speak with his client and communicate with the insurer.  Fraud Fails but Fraudster Not Punished  Classic Car Insurance Company saved a $100,000 claim. It spent $30,000  investigating the claim and defeating it. It was lucky. No litigation  followed. It reported the loss to the state\\u2019s Fraud Bureau who now has  the insured\\u2019s name on record. There has been no prosecution.  No prosecution is anticipated or expected. The Fraud Bureau is simply  inundated with fraudulent insurance claims and must limit its  prosecutorial efforts to major crimes that exceed $1,000,000 or rings of  insurance fraud perpetrators who file multiple claims.  

(c) 2022 Barry Zalma & ClaimSchool, Inc.