What is considered "insurance fraud"?

Insurance fraud is characterized by the act of providing false information to gain insurance benefits. This deceptive practice can involve various forms of misrepresentation, including exaggerating the severity of a claim, falsifying accidents or losses, or providing incorrect personal information that could affect the underwriting of a policy. The essence of insurance fraud lies in the intentional deceit aimed at obtaining an undeserved benefit or payment.

The other options do not encapsulate the critical element of intentional deception required to categorize an action as fraud. Claiming benefits without a policy does not inherently involve deceit towards the insurer, and failing to pay premiums on time typically falls under policy obligations rather than fraud. Neglecting to file claims accurately can stem from errors or oversight rather than intentional dishonesty. Thus, providing false information to gain benefits distinctly represents the crime of insurance fraud due to its willful nature.