A Video About Zalma's Insurance Fraud Letter - March 1, 2021

Zalma's Insurance Fraud Letter Volume 25, No 5 Includes the Following Articles:Show more

Insurance Fraud by Insurers

Insurance fraud is not limited to fraud by insureds against their insurers. Much to the shame of the insurance industry, the reverse also happens.

The poster child of fraud by an insurer was Martin Frankel who created a scheme he masterminded to “loot” more than $200 million from seven insurance companies that he controlled. Franklin American Corporation, and its wholly-owned subsidiary, Franklin American Life Insurance Company were controlled by another entity, a Tennessee trust named the Thunor Trust. The Trust had purchased an 85% interest in Franklin American in 1991. In subsequent years, the Thunor Trust purchased five other insurance companies, which were domiciled in the states of Mississippi, Missouri, and Oklahoma.

Kickback Schemes Result in Multiple Insurance Fraud Convictions

Health insurers are usually believers in those health care providers who submit invoices to the insurers for the services provided to the people they insure. Realizing that insurers try to act fairly and in good faith, amoral people in the health care profession will often succeed in defrauding the insurers. However, when the practitioners get greedy a prosecutor will become interested and might pursue prosecution against the health care providers.

In a lengthy and detailed opinion called The People v. Gonzalo Ernesto Paredes, D076086, Court of Appeal, Fourth Appellate District Division One State of California (February 18, 2021) Paredes appealed the verdict after a jury found Gonzalo Ernesto Paredes guilty of 35 counts of offering or delivering compensation for workers’ compensation patient referrals and 16 counts of concealing an event affecting an insurance claim, insurance fraud.

New York State’s Legion of Shame

Good News From The Coalition Against Insurance Fraud

Coalition Against Insurance Fraud – Fraud of the Month of February
Health Insurance Fraud Convictions
Videos on YouTube And Zalma On Insurance from Barry Zalma

Zalma on Insurance Videos

Other Insurance Fraud Convictions
New Book: "It's Time to Abolish the Tort of Bad Faith"

Consider Books to Show Your Appreciation to Your Insurer Clients or Claims Employees
New and Now Available from the Zalma Insurance Claims Library

© 2021 – 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 also serves as an arbitrator or mediator for insurance related disputes. He practiced law in California for more than 44 years as an insurance coverage and claims handling lawyer and more than 52 years in the insurance business. He is available at http://www.zalma.com and zalma@zalma.com.

Mr. Zalma is the first recipient of the first annual Claims Magazine/ACE Legend Award.

Over the last 53 years Barry Zalma has dedicated his life to insurance, insurance claims and the need to defeat insurance fraud. He has created the following library of books and other materials to make it possible for insurers and their claims staff to become insurance claims professionals.

Go to the podcast Zalma On Insurance at https://anchor.fm/barry-zalma; Follow Mr. Zalma on Twitter at https://twitter.com/bzalma; Go to Barry Zalma videos at Rumble.com at https://rumble.com/c/c-262921; Go to Barry Zalma on YouTube- https://www.youtube.com/channel/UCysiZklEtxZsSF9DfC0Expg; Go to the Insurance Claims Library – https://zalma.com/blog/insurance-claims-library/ Read posts from Barry Zalma at https://parler.com/profile/Zalma/posts; and Read last two issues of ZIFL here.