Concept information
Preferred term
insurance fraud
Definition
- INSURANCE IS THE PRESUMED protection against a possible loss in exchange for a predetermined fee, which assumes a fee low enough to make the purchase of insurance attractive to the purchaser, but still generating a profit for the company supplying the coverage. Insurance coverage ranges from the mundane (car, life, flood, health) to the exotic (singer's voice, athlete's arms, weather on a certain day). [Source: Encyclopedia of White-Collar & Corporate Crime; Insurance Fraud]
Broader concept
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Belongs to group
URI
https://concepts.sagepub.com/social-science/concept/insurance_fraud
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