What are the consequences of making a false statement on an insurance claim?

Making a false statement on an insurance claim in North Carolina is a punishable offense. Anyone who makes a false statement on an insurance claim may face a criminal conviction and a misdemeanor charge on their record. Depending on the amount of the claim and the severity of the false statement, an individual may face a Class H or I felony conviction. Not only may a false statement result in criminal charges, but an individual may also be subject to harsh financial penalties as well. If an individual is found to be in violation of insurance claims law and making a false statement, they may be required to reimburse the insurance company for any money they received from the false claim. This can include money paid out to cover medical expenses or property damage. If a person is found to have committed fraud, they may also be required to pay punitive damages and attorneys’ fees to the insurance company. Depending on the amount of the claim, an individual could face a fine of up to $200,000 and/or up to 10 years in prison. Making a false statement on an insurance claim is a serious offense that can have serious consequences. If an individual is found guilty of this crime, they may face criminal charges, financial penalties, and even jail time. It is important for anyone seeking to make a claim on an insurance policy to ensure that all information provided is accurate and truthful.

Related FAQs

What is the difference between an insurance policy and a contract?
How do I know if an insurance claim has been settled?
What is a reasonable period of time for an insured to submit an insurance claim?
What is the difference between an insurance policy and a benefit?
What is a statement of fact?
What is a statutory limit in an insurance policy?
How do I calculate a claim settlement?
What is an independent adjuster?
What types of insurance claims are there?
How is an insurance claim investigated?

What are the consequences of making a false statement on an insurance claim?

Related FAQs

Related Blog Posts