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by chrisbennet
3812 days ago
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Suppose I buy something(1) and collude with an appraiser(2) to value it much higher than its actual worth and then get it insured (3). Now suppose the market discovers the true value of that it and massively devalues it. Consequently, I collect on the insurance. Why isn't this insurance fraud? (1) home loans
(2) rating agencies like Moodies
(3) AIG |
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