Ex-Adjuster Charged in $200K Insurance Fraud Scheme
A former insurance adjuster, John Philbin, has been charged with fraud and deception after submitting 11 fake claims worth nearly $200,000 at Assurant Insurance Co. in New Jersey. The scam, which went undetected for seven months, involved Philbin creating false identities and approving the claims himself.
Philbin, who worked at Assurant from October 2022 to May 2023, set up the fraudulent scheme using Post Office boxes in Clementon and Blackwood to receive payments. He created and submitted phony car insurance quotes, fabricating vendor estimates and invoices for non-existent companies to support his deceit.
Internal audit logs and document metadata eventually linked Philbin to the creation and approval of the fabricated documents. As a property claims adjuster, he exploited his individual authority to approve the claims, bypassing usual verification processes.
John Philbin, the alleged mastermind behind the scam, has been charged with insurance fraud and theft by deception. The investigation is ongoing, and further details about the case are yet to be revealed. The incident serves as a reminder of the importance of robust internal controls and verification processes in preventing such fraudulent activities.
