“The Sleeze” A Fictionalized Story of Insurance Fraud
See the full video at https://youtu.be/LD7NJuN5itU and https://rumble.com/vdvuld-a-true-crime-story-of-insurance-fraud.html
The Sleaze was not a nice man. He learned the safe way to steal in prison. A Superior Court Judge had sentenced him to two years in state prison for forging his mother’s will.
His cell mate, an armed robber bragged about his successful brother. The brother had found a new career claiming the theft of small pieces of jewelry on homeowners’ policies. Insurance companies always paid, whether he owned the jewelry or not, rather than fight. His cell mate explained how prosecutors had no interest in this type of crime. Insurance companies, fearing punitive damages verdicts would pay even when the claim was fraudulent.
The Sleaze vowed that when he got out of prison he would pursue this safe form of crime.
The Sleaze was a man of his word. Immediately after leaving prison he bought a tenant’s homeowners policy. He asked for, and received without question, a $10,000 jewelry extension from the company. His limit of liability, instead of the standard $1,000, was $10,000.
On the surface, the Sleaze was unsuccessful in his fraudulent claims against the insurance company. He was successful in committing fraud. He was successful in raising the reasonable costs of defending fraudulent insurance claims beyond logic. He placed a lawyer in fear of her life and cost her law firm and the insurer she represented the cost of a body guard. Anyone who believes that insurance fraud is not a violent crime never met the Sleaze.
© 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 firstname.lastname@example.org.
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.