This document discusses an insurance fraud scheme involving collusion between an auto body shop owner and claims adjuster. The shop owner would inflate repair estimates and kick back half the profits to the adjuster. Motivations for the fraud included financial pressures and greed. Statistics show insurance fraud, including inflated repairs and staged accidents, is on the rise. Preventive actions recommended include vetting employees, oversight of claims, and educating customers on reporting suspicions.
Alternative Free Arrangements: The Facts Behind the BuzzFirmex
Alternative fee arrangements (AFAs) are bringing significant changes to the legal profession. Clients are pushing for a combination of cost savings and cost certainty, and law firms are responding in a resounding way.
http://finishedexams.com/homework_text.php?cat=15939
Immediate access to solutions for ENTIRE COURSES, FINAL EXAMS and HOMEWORKS “RATED A+" - Without Registration!
Alternative Free Arrangements: The Facts Behind the BuzzFirmex
Alternative fee arrangements (AFAs) are bringing significant changes to the legal profession. Clients are pushing for a combination of cost savings and cost certainty, and law firms are responding in a resounding way.
http://finishedexams.com/homework_text.php?cat=15939
Immediate access to solutions for ENTIRE COURSES, FINAL EXAMS and HOMEWORKS “RATED A+" - Without Registration!
Which Gov't Agencies are Targeting Auto Dealers… and How to Reduce Your ExposureJim Radogna
Discover the Top Areas for Enforcement and Penalty Currently Costing Other Dealerships a Bundle! High Risk Areas for All Dealership Departments.
When it comes to government regulation and enforcement it seems that Auto Dealerships have a huge target painted on the rooftop.
Laws and regulations impacting auto dealers are many. However, this workshop we will focus on the top enforcement threats facing most auto dealers today and how you can prepare and adjust to lessen your dealership's exposure.
You will learn:
Which Federal & State Regulators are most active in dealerships right now
The most common enforcement actions taken against dealerships today
About the specific enforcement cases and the resulting monetary damages
Specific risks for Variable Operations, Fixed Operations & Human Resources
Best Practices to Avoid these very real potential liabilities
Analysis of case study Autobytel.com by Harvard Business School...
To get a copy of this report, share your views about the document with your email id in Comments section... I keep on updating my presentations and documents. To ensure that you don't miss any update or new uploads don't forget to press the "FOLLOW" and "LIKE" button. You can also mail me at manigarg21@gmail.com
Connecticut Automotive Retailers Webinar November 8th, 2016
In late September, the Federal Trade Commission announced what is likely the most substantial auto dealer enforcement action in the agency’s history. While most of the FTC’s earlier cases have focused solely on dealer advertising, this action alleges over a dozen different types of violations. And unlike previous cases where there were no initial monetary penalties, this time it looks like they’re seeking massive financial consequences for the dealers involved.
In this informative presentation we’ll examine each of the FTC’s latest claims in detail and discuss best practices on how your dealership can avoid being targeted by federal and state regulators. The game is changing and it pays to be prepared.
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This is the slideware from the live webinar hosted by inQuba in South Africa, on the 28th May 2020. The recording is available here: https://youtu.be/o74XndOxzR8
The Science of Creating Insurance Journeys That Your Clients Love
Do you really know why your clients are leaving, and exactly what you can do to keep them?
There are only a handful of reasons why clients leave their insurers. The good news is that a 100% boost in retention, acquisition and online conversion is now within reach.
The world has changed forever, but clients are still won or lost at moments of truth. During this webinar we discuss the following:
• The top reasons for churn in insurance
• How to solve for retention – the three categories of solutions
• How to create visibility of churn and retention throughout the business.
• How to get started!
Our guest speaker was insurance industry expert Clive Jainerain.
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Despite the efforts of many good dealers, a significant trust-gap still exists when it comes to the dealership appraisal process. In fact, recent research shows only 31% of consumers trust the trade-in value provided by the dealership. This session will explore how transparency in the appraisal process can help you build consumer confidence, acquire more vehicles, and improve your bottom line.
As physicians struggle with the need for medical billing reports, a small PPT on what medical billing reports every practice must pull up, in order to fix revenue leaks.
In late September, the Federal Trade Commission announced what is likely the most substantial auto dealer enforcement action in the agency’s history. While most of the FTC’s earlier cases have focused solely on dealer advertising, this action against 9 California dealerships alleges over a dozen different types of violations. And unlike previous cases where there were no initial monetary penalties, this time it looks like they’re seeking massive financial consequences for the dealers involved.
In this informative presentation we’ll examine each of the FTC’s latest claims in detail and discuss best practices on how your dealership can avoid being targeted by federal and state regulators. The game is changing and it pays to be prepared.
Which Gov't Agencies are Targeting Auto Dealers… and How to Reduce Your ExposureJim Radogna
Discover the Top Areas for Enforcement and Penalty Currently Costing Other Dealerships a Bundle! High Risk Areas for All Dealership Departments.
When it comes to government regulation and enforcement it seems that Auto Dealerships have a huge target painted on the rooftop.
Laws and regulations impacting auto dealers are many. However, this workshop we will focus on the top enforcement threats facing most auto dealers today and how you can prepare and adjust to lessen your dealership's exposure.
You will learn:
Which Federal & State Regulators are most active in dealerships right now
The most common enforcement actions taken against dealerships today
About the specific enforcement cases and the resulting monetary damages
Specific risks for Variable Operations, Fixed Operations & Human Resources
Best Practices to Avoid these very real potential liabilities
Analysis of case study Autobytel.com by Harvard Business School...
To get a copy of this report, share your views about the document with your email id in Comments section... I keep on updating my presentations and documents. To ensure that you don't miss any update or new uploads don't forget to press the "FOLLOW" and "LIKE" button. You can also mail me at manigarg21@gmail.com
Connecticut Automotive Retailers Webinar November 8th, 2016
In late September, the Federal Trade Commission announced what is likely the most substantial auto dealer enforcement action in the agency’s history. While most of the FTC’s earlier cases have focused solely on dealer advertising, this action alleges over a dozen different types of violations. And unlike previous cases where there were no initial monetary penalties, this time it looks like they’re seeking massive financial consequences for the dealers involved.
In this informative presentation we’ll examine each of the FTC’s latest claims in detail and discuss best practices on how your dealership can avoid being targeted by federal and state regulators. The game is changing and it pays to be prepared.
Infographic: Sales Channel Incentive Fraud Trends For 2014360insights
Here are the top and emerging trends in channel and consumer promotion incentive fraud. The data are pulled from over 16M sales channel incentives and consumer rebate claims.
This is the slideware from the live webinar hosted by inQuba in South Africa, on the 28th May 2020. The recording is available here: https://youtu.be/o74XndOxzR8
The Science of Creating Insurance Journeys That Your Clients Love
Do you really know why your clients are leaving, and exactly what you can do to keep them?
There are only a handful of reasons why clients leave their insurers. The good news is that a 100% boost in retention, acquisition and online conversion is now within reach.
The world has changed forever, but clients are still won or lost at moments of truth. During this webinar we discuss the following:
• The top reasons for churn in insurance
• How to solve for retention – the three categories of solutions
• How to create visibility of churn and retention throughout the business.
• How to get started!
Our guest speaker was insurance industry expert Clive Jainerain.
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Despite the efforts of many good dealers, a significant trust-gap still exists when it comes to the dealership appraisal process. In fact, recent research shows only 31% of consumers trust the trade-in value provided by the dealership. This session will explore how transparency in the appraisal process can help you build consumer confidence, acquire more vehicles, and improve your bottom line.
As physicians struggle with the need for medical billing reports, a small PPT on what medical billing reports every practice must pull up, in order to fix revenue leaks.
In late September, the Federal Trade Commission announced what is likely the most substantial auto dealer enforcement action in the agency’s history. While most of the FTC’s earlier cases have focused solely on dealer advertising, this action against 9 California dealerships alleges over a dozen different types of violations. And unlike previous cases where there were no initial monetary penalties, this time it looks like they’re seeking massive financial consequences for the dealers involved.
In this informative presentation we’ll examine each of the FTC’s latest claims in detail and discuss best practices on how your dealership can avoid being targeted by federal and state regulators. The game is changing and it pays to be prepared.
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Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
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for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
2. DESCRIPTION of FRAUD Collusion between insurance claims adjuster & auto body shop owner Inflation of repair estimates Kickback ½ profit of repair to claims adjuster
3. FRAUD INVOLVEMENT: AUTO SHOP AAA Auto Body of New Britain Owner: Rick, 38 years old Wife, 2 children Inherited shop from father Pressure to provide for family Unsatisfied with low profits from insurance claims Low volume of customers via word-of-mouth and advertising
4. FRAUD INVOLVEMENT: AUTO SHOP Inflates repair estimates Includes new parts in estimates Substitutes salvage parts, or Includes parts in estimate that are not needed After estimate approved Provide repair at cost lower than estimate Invoice lists phantom parts and inflated labor hours Split profit 50/50 with claims adjuster
5. Faulty Repair Shops being Recommended Unsafe Auto Body Repair- Connecticut Example
6. FRAUD INVOLVEMENT: CLAIMS ADJUSTER Adjuster found a local body shop that is approved by his company. He made an agreement with the owner to inflate estimates. He uses pictures of different cars (same make and color) that has had worse damage. He writes checks for rental cars never requested the business set up through the auto body shop to receive payment
7. MOTIVATIONS for COMMITTING Personal life pressures Greed for the potential profits The opportunity exists because it’s not taking place where a supervisor is constantly present The thought that the insurance company has too much money
8. MOST LIKELY PERPETRATORS An established auto body shop in the community who has already built trust An adjuster who has been in the field long enough to know how to manipulate papers and estimates.
9. RELEVANT STATISTICS There are 42.7% of corruption cases are related to a bribery scheme. Approximately 29% of all frauds are involving collusion between employees and others
10. RELEVANT STATISTICS Top 15 Questionable Claims Referred to NICB 85,000 reported 2009 – 14 % increase 6 out of 15 related to auto insurance #4 Hail damage to vehicle ↑ 47% #5 Auto glass fraud ↑ 47% #7 Phantom accident ↑ 43% #11 Inflated repairs ↑ 33% #12 Suspicious hit while parked ↑ 33% #14 Unperformed repairs ↑ 31%
11. RELEVANT STATISTICS Coalition Against Insurance Fraud Study October 2009 37 state insurance fraud bureaus participated Survey of volume of referrals and cases reported in 15 fraud areas Change in department resources
12. Create a culture of honesty and openness Focusing on hiring honest people Developing a code of ethics Having an effective internal audit department Having a proper system of authorizations Prosecute “the claims adjuster”, in order to discourage future perpetrators PREVENTIVE ACTIONS
13. PREVENTIVE ACTIONS Make insurance customers aware of rights Right to use shop of choice Insurance “recommended shops” are not mandatory Notify customers of state insurance department How to report suspicion of fraud http://www.ct.gov/cid/lib/cid/FraudReferralForm.pdf
14. DETECTION METHODS Having independent checks on claims transaction such as supervisor reviews Examining documents and records to determine if there are anomalies that represent fraud Providing ways for people to report suspicious of fraud, for example: Whistle-blowing systems Performing a net worth calculation to determine the extent of unknown income Conducting vertical and horizontal analysis on income statement to see unexplained changes
15. CASES or EXAMPLES http://www.theautofinder.com/news/july07/agentfraud.htm http://www.carinsurancequotes.com/articles/new-york-car-insurance-agents-penalized-for-accepting-kickbacks.html
16. RELEVANT ARTICLES or RESOURCES “Confessions of an Auto Claims Adjuster” (http://www.edmunds.com/advice/insurance/articles/161707/article.html) Fraud examination, 3rd Edition Coalition Against Insurance Fraud (http://www.insurancefraud.org/) National Insurance Crime Bureau (https://www.nicb.org/)
17. REFERENCES “Insurance Fraud.” Insurance Information Institute, April 2010. http://www.iii.org/media/hottopics/insurance/fraud/ “Insurance agents, brokers fined for accepting kickbacks.” Automotive Body Repair News, 19 October 2009.