A Florida man has been arrested after state investigators said fraudulent life insurance applications used other people’s personal information to generate advance commission payments.
The Florida Department of Financial Services identified the defendant as Luigino Jose Bosco. The department said its Criminal Investigations Division began investigating after an insurance company reported that fraudulent life insurance policy applications were being submitted by Bosco using personal information from unsuspecting people.
Investigators said sworn statements from victims and other evidence pointed to a scheme to file fraudulent policy applications for financial gain. The advance insurance commission payments tied to the case totaled $5,043.23, according to state officials.
Bosco was charged with insurance fraud, application fraud, grand theft, and organized scheme to defraud. The case is being presented to the Miami-Dade State Attorney’s Office for prosecution, and the charges have not been proven in court.
The Case Started With an Insurance Company Complaint
The Florida Department of Financial Services said the complaint came from an insurance company that flagged the life insurance applications.
The release did not name the insurer or identify the victims. It said the applications used personal information from unsuspecting people, and investigators later gathered sworn statements from victims during the Criminal Investigations Division case.
Investigators Say the Applications Triggered Advance Commissions
State officials said the applications were filed to generate advance insurance commission payments. In life insurance sales, commissions can be paid before a policy has been in force for long, which can create a target for false applications if identities or personal details are misused.
The commission payments tied to the case totaled $5,043.23, according to the department. Although the amount is far smaller than many insurance fraud cases, the consumer issue is the alleged use of personal information to create policy business the victims did not authorize.
Bosco Faces Four Charges
Bosco was arrested last week by the Department of Financial Services Criminal Investigations Division. He was charged with insurance fraud, application fraud, grand theft, and organized scheme to defraud.
Florida Chief Financial Officer Blaise Ingoglia’s office said Bosco faces up to five years in prison if convicted. State officials also said he was wanted by U.S. Immigration and Customs Enforcement when he was arrested.
The department said the case is being presented to the Miami-Dade State Attorney’s Office.
Consumers Should Question Any Policy They Did Not Request
A life insurance application can involve sensitive information, including a person’s name, date of birth, contact details, medical history, Social Security number, beneficiary information, and signatures. If someone receives policy paperwork, a welcome letter, a billing notice, or an insurer call about coverage they never requested, they should contact the insurance company directly through a number listed on the company’s official website or policy documents.
Consumers can ask the insurer for the application, the writing agent’s name, the agent number, the signature page, the payment method, and the address or email used on the policy. They should also ask the company to flag the file as disputed if the policy was opened without permission.
Florida consumers can check whether an insurance professional is licensed through the state’s Insurance Agent and Agency Licensee Search. Suspected insurance fraud can be reported to the Florida Department of Financial Services at FraudFreeFlorida.com or through the Insurance Fraud Hotline at 1-800-378-0445.
