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Man cuts own hand to dupe insurers – now he owes them £300,000

Man cuts own hand to dupe insurers – now he owes them £300,000 | Insurance Business

Man cuts own hand to dupe insurers – now he owes them £300,000
The story of a recently convicted fraudster in Spain should serve as a warning to those who are willing to take it to the extreme just to get insurance money.
According to a report by the Daily Mail, farmer Miguel Blazquez-Palacios has been sent to prison by Supreme Court judges in Madrid for staging an accident in December 2007 to defraud insurers. He was also ordered to repay the companies nearly £300,000.
The report said Palacios intentionally severed his hand and crashed his car in the Spanish province of Castellon. He placed the chopped off hand on the driver’s seat and set the vehicle on fire.
Palacios, who wrapped a tourniquet around the maimed limb to stop the bleeding, was later found by the police smoking a cigarette.
The Spaniard then told authorities that he avoided an animal on the road, which led to the crash. He also claimed that a metal bar ploughed into the windshield and sliced his hand off.
Palacious proceeded to claim insurance on the basis of eight different policies, including for permanent disability and severe disability, the International Business Times UK reported.
Spain’s Supreme Court sentenced Palacios to three years and six months in prison and ordered him to pay back three insurers €335,000 or more than £302,000.
The Daily Mail reported that Palacios could have earned up to £3 million in payouts if he had not been arrested after the insurers raised suspicions on his claims.
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