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Department Of Insurance Investigators Break Up Auto Fraud Ring
Insurance Commissioner Steve Poizner today announced the arrest of two suspects in connection with staging automobile accidents in California and filing insurance claims for medical treatment they falsely claimed to have received in other countries.
"I am committed to fighting fraud wherever we find it - even across the globe," said Insurance Commissioner Steve Poizner. "Thanks to the initiative of our investigators and the help of Homeland Security, it didn't matter that this investigation extended all the way to Sri Lanka."
According to investigators, Ron Ranasingh conspired with other named co-defendants in staging three vehicle accidents that between February 2003 and September 2004. After each accident, Ranasingh and others submitted tens of thousands of dollars in false insurance claims. Agents with the U.S. Department of Homeland Security tracked down addresses listed on fake bills submitted for chiropractor offices in Sri Lanka, New Delhi and Hong Kong to find they weren't chiropractic offices at all.
California Department of Insurance investigators say Ron Ranasingh (also known as Harsh Rana Singe) 38, of Ontario, Canada, was arrested by the U.S. Department of Homeland Security while traveling through Miami from London. CDI requested Homeland Security's assistance in tracking Ranasingh's travels overseas, and in securing his arrest. Ranasingh was extradited to Santa Clara County on February 22, 2007, where he remains in custody. His bail hearing is set for tomorrow, Wednesday, March 7, 2007. Read more at insurance.ca.gov.
Studies Discover The Level Of Education A Person Has, Corresponds With Their Vehicle Death Rate
A study by the Insurance Institute for Highway Safety found that the level of education a person has corresponds with their vehicle death rate. Men and women without a high school diploma had three times the fatality risk of those who had some education beyond high school.
There's The Cost Of The Vehicle Driving is a privilege, but it comes with a price tag. There's the cost of the vehicle itself, maintenance, repairs, fuel and auto insurance. Many ...
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Definition:
A lending institution that finances insurance premiums for a fee.
Loss Due To Fire Title
Definition:
The vehicle sustained major damage due to fire. In most states, fire damage titles are issued when the cost of repairing the vehicle for safe operation exceeds its fair market value.
Gap Insurance
Definition:
Insurance that pays the difference between the actual cash value of a vehicle and the amount still to be paid on the loan. Some gap policies may also cover the amount of the deductible.
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