TDI’s Fraud Unit has investigators, prosecutors, fraud examiners, attorneys, and support staff. Vivian Cervantez’s job is performing financial analysis and forensic accounting services. As a financial analyst, her efforts help investigate cases of insurance fraud.

What kind of work does a fraud analyst do?

We’re examining a lot of data and looking for unusual patterns. A fraud analyst’s work can include converting bank statements into Excel spreadsheets and providing summary tables for investigators. Other times, work involves cross referencing bank statements, billing records from doctors, and claims data from insurance companies.

What is forensic accounting?

Forensic accounting is the marriage of accounting and investigating. Accounting involves records and the recording of transactions. Forensic accounting is taking those records and using them to find out if there is a misuse of funds or if there are any patterns of misuse.

What’s an example of forensic accounting?

A policyholder, like a homeowner, might pay their policy premium to an insurance agent. The agent then keeps the money instead of handing it over to the insurance company to pay for the policy. A financial analyst’s research may see the money going into the agent’s accounts but doesn’t see it paid out to the insurance company. That’s insurance fraud.

Why is financial analysis important?

Insurance fraud leads to higher insurance premiums for everyone. The Fraud Unit’s efforts to cut down on the amount of insurance fraud should help keep insurance more affordable by reducing the impact that fraud has on insurance premiums.

How do you avoid becoming a victim of insurance fraud?

In the case of giving your money to a bad agent who doesn’t give you a real policy in return, do your research. You can call our Help Line at 800-252-3439 to make sure an insurance agent is licensed. Try to pay the insurance company directly. Don't pay the agent in cash. Use debit or credit. If something feels wrong, then it probably is wrong. 

• Report insurance fraud
• Insurance fraud guide
• Fraud investigator helps shut down COVID-19 testing fraud
• How TDI helped bring down fraudster "Doc" Gallagher

You have about two minutes to get out of a burning house from the second your smoke alarm goes off. It’s critical your alarm works.

How many smoke alarms should I have?

You should have enough smoke alarms for everyone to hear in every area of your house. You should have them on every level of your home and inside and outside every sleeping area. Test your alarms during the day and again at night to make sure everyone can hear them.

Where do smoke alarms go?

Read the instructions that come with your smoke alarm to know if it goes on the wall or ceiling. If you don’t have the instructions, search your smoke alarm model number online to find them. There will be instructions for manufactured homes and vaulted ceilings.

How often should I test my smoke alarm?

Press the button on your smoke alarm every month. If you can’t reach it, use a broom handle or call a friend for help. While you’re near the alarm, dust it off. They can collect dust and bugs that could make them malfunction.

Do you recommend the new smoke alarm technologies?

If you’re shopping for a new alarm, consider the ionization and photoelectric smoke alarms. Photoelectric alarms detect smoldering fires and ionization smoke alarms detect flaming fires. Another alarm style, the multi-criteria alarm, has a sensor to know if a fire is a non-emergency cooking fire or an emergency fire.

Where can I get a free smoke alarm?

The American Red Cross provides free smoke alarms. Many community organizations and fire departments also give free smoke alarms. Fire departments are also great resources if you have questions about where to put a smoke alarm in your house.

What else should I know about smoke alarms?

There are three main takeaways:

- Make sure your house has smoke alarms.

- Test your smoke alarm every month.

- Replace smoke alarms every 10 years.

Learn more:

Smoke alarms: Where to put them, how often to replace batteries
Smoke and carbon monoxide alarm safety
Is your smoke or carbon monoxide alarm chirping? Here’s what it’s telling you

When you file a home insurance claim, you can also get paid for any personal property that was stolen or destroyed. Your agent or company will ask if you have a home inventory.

Why do I need a home inventory?

A home inventory is a way to help you remember what you own. By taking pictures or writing it down, you can remember the TVs, light fixtures, silverware, clothes, furniture, and more.

How much will my insurance pay for my personal property?

It will pay up to your coverage limit if the total amount stolen or destroyed adds up to that amount. You might have more expensive items – like jewelry, bicycles, or artwork – that are more valuable. You can buy an endorsement to your policy that will pay more for these items. Look on the first page of your policy to learn your personal property coverage limit.

How do I put together a home inventory?

The easiest thing you can do is take pictures and videos of everything in your house. Don't forget your closets, drawers, garage, and sheds. You can also use TDI's home inventory (PDF) form or a home inventory app to write down items. Include the serial number, the date you bought it, and the amount you paid. Take pictures of receipts.

How often should I update my home inventory?

After you put an inventory together, update it every year. You buy and sell things throughout the year that you'll need to add or take off. If you bought something expensive or valuable, ask your agent about buying an endorsement.