The Hartford's Investigation Leads to Arrest of Insurance Fraud Suspect.
In processing what seemed to be a routine auto burglary claim, The Hartford's Claim Department discovered multiple filings of the same claim with other insurance carriers. If Bright had been successful, he could have received in excess of $20,000 from the companies.
Ted Dalrymple, The Hartford's special investigator based in New Orleans, noted, "Insurance fraud affects everyone in the form of higher premiums for what often can be irrecoverable costs. Fraud detection efforts like this benefit our customers and shareholders. The more we can uncover insurance fraud and deter others from participating in fraudulent activities, the better we can manage insurance costs."
Dalrymple explained that the three claims were filed within days of each other alleging that the policyholder's car had been burglarized.
"Bright reported that a number of items had been stolen from his automobile, including a laptop computer, a video camera and a watch," said Dalrymple. "During the course of our investigation, we discovered that Bright had provided duplicate receipts to all three insurance carriers to support these claims."
Further investigation revealed that the suspect also had filed claims in 1995 and 1996 with two other insurers for duplicate items, one of which included the same laptop and receipt as the current claims.
Louisiana State Police Insurance Fraud Task Force Commander, Lt. Kermit Smith, noted, "With the assistance of The Hartford's investigation, we conducted an inquiry into the alleged fraudulent activities and were able to document just cause leading to today's arrest."
The Hartford is one of the nation's oldest and largest international insurance and financial services operations, with 1997 revenues of $13.3 billion. As of June 30, 1998, The Hartford had assets of $144.9 billion and shareholders' equity of $6.4 billion. The company is a leading provider of commercial property and casualty insurance; automobile and homeowners coverages; and a variety of life insurance, annuities, employee benefits and asset management plans.
The Hartford's Internet address is http://www.thehartford.com.
|Printer friendly Cite/link Email Feedback|
|Date:||Oct 15, 1998|
|Previous Article:||Spectranetics Reports Fifth Straight Quarter of Record Revenues.|
|Next Article:||American Telecasting, Inc. Purchases a Portion of Its Senior Discount Notes Due 2004 and a Portion of Its Senior Discount Notes Due 2005 Pursuant to...|