Fraud in insurance refers to deliberate dishonesty or misrepresentation intended to secure coverage, benefits, or payments to which a party is not entitled. This includes providing false information in applications, staging or fabricating losses, exaggerating legitimate claims, or concealing material facts. Insurance policies universally exclude coverage for the insured's own fraudulent acts (including those of directors, officers, or employees acting on behalf of the organization), and fraudulent claims may void coverage entirely under the duty of utmost good faith. However, policies may provide coverage where the insured suffers loss caused by third-party fraud, such as theft by deception or social engineering attacks.
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