A Video on a True Crime Story About a Successful Insurance Fraud

Don’t Sweat the Small Stuff

A True Crime Story from Barry Zalma’s Book:

Heads I Win, Tails You Lose

One day the claimant was walking past a fine restaurant when he fell and broke the frames of his glasses. The manager saw him fall. She rushed out, helped him to his feet and checked his physical condition. He thought he was uninjured but the frames of his glasses had broken at the bridge.

The restaurant manager, fearful of a lawsuit, offered him lunch on the house and asked the cost of the frames. When he told her $80.00, she went to the register and brought him four crisp twenty dollar bills. The claimant could not believe his good fortune. It was so easy. From that day on he made a good living from many small frauds.

Watch the video for the full story, one of more than 80.

Why is the book Called: “Heads I Win, Tails You Lose”

When I was three years old and my mother wanted me to do something I did not want to do, she would say:

“Let’s flip a coin to tell whether you do it or not.”

A three year old is gullible and believes his mother. What she would do to me, when I agreed to the gamble, was say:

“Okay, heads I win, tails you lose.”

Until I became a sophisticated six year old, I always ended up doing what my mother wanted. I thought I was an unlucky gambler.

Perpetrators of insurance fraud challenge insurers to the same type of gamble. Those of you who have read the previous chapters or this series of columns now understand that insurers faced with a fraudulent claim find that the perpetrator wins when it pays the claim or the insurer loses when it fights a fraudulent claim.


© 2020 – 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 52 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.

Read posts from Barry Zalma at https://parler.com/profile/Zalma/posts

Go to Zalma on Insurance on YouTube- https://www.youtube.com/channel/UCFg7qxC0tVgKcMUqoUfnwPw

Go to the Insurance Claims Library – https://zalma.com/blog/insurance-claims-library/

Subscribe to e-mail Version of ZIFL, it’s Free! – https://visitor.r20.constantcontact.com/manage/optin?v=001Gb86hroKqEYVdo-PWnMUkV7pkuOtkiv6oakpgK33CNlNAYW-WBlLCOZFtgvpSdcL7R-tsWKfMVqG6fEuvmM7Hh7gUEJ7yKOdgHDbGl_cGAU%3D

Read last two issues of ZIFL here. https://zalma.com/zalmas-insurance-fraud-letter-2/

Go to the Barry Zalma, Inc. web site here https://www.zalma.com/

 

 

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