Insurance Fraud?

[Bond Magician]

Would it be considered insurance fraud if I say that I am not married on an application but I really am married?

[Mother Bond]

Originally Posted by Bond Magician

Would it be considered insurance fraud if I say that I am not married on an application but I really am married?

If you are married, but state on the application that you are not - you would be providing false or misleading information. This is considered a fraudulent insurance act, which is a crime, and therefor subject to criminal and civil penalties.

Note that in the Terms of Services, it says "...false statements may result in forfeiture of benefits and possible prosecution by the US Attorney-General - (Any person who knowingly and with the intent to injure, defraud, or deceive any insurer files a statement of claim or an application containing false, or misleading information is guilty of a felony of the third degree.)..."

Be sure, when filling out the application, to provide accurate and complete information. If you have any questions along the way, please call our office and ask to speak to one of our representatives.

[Bond Magician]

Do you check to see if each applicant is indeed married? What if you issue the bond based on the information that a client is NOT married but you find out that they are? Does the bond get canceled?

[Surety Queen]

Originally Posted by Bond Magician

Do you check to see if each applicant is indeed married? What if you issue the bond based on the information that a client is NOT married but you find out that they are? Does the bond get canceled?

Bonds are underwritten based upon the information provided in the application. If it is discovered down the road that you provided false information, you can be pretty sure your bond will be cancelled. In the case of saying you're not married when you are, Surety may just require that your spouse sign the agreement at that time. All in all - it's not a good idea to provide anything other than the truth. How's that for a life lesson!