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News
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.
By 2025, Senior Citizens Will Be The Largest Percentage Of "Rear End" And "Turning Left" Accidents
By the year 2025 there will be 33 million people who are 70 years or older. They will make up the largest percentage of the “turning left” and “rear end” accidents. Slowly but surely Senior Citizens have developed a higher accident ratio than teenagers.
Definition:
The title of the head of most state insurance departments. In some states, the Director or Superintendent of Insurance is used instead.
Salvage
Definition:
Property taken over by an insurer to reduce its loss.
Junk Title
Definition:
A Junk Title is issued on a vehicle damaged to the extent that the cost of repairing the vehicle for safe operation exceeds its fair market value; or a vehicle that has been declared a total loss by an insurer or other state or jurisdiction.
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