There's insurance fraud, and then there's INSURANCE FRAUD! These ladies are disgusting and should spend the rest of their lives in jail. But what about the insurance companies?
It's a strange story; the kind you would see on Law and Order. One detective was talking openly about a peculiar case of the hit and run murder of a homeless man, when another detective put the dots together, noting the similarity to an unresolved case he had worked on six years earlier.
It turns out that two ladies, both in their 70s, were befriending homeless men, taking out life insurance contracts on them in exchange for food and occasional shelter. How this ends is almost obvious. The men are killed in mysterious hit and run cases. The women collect the insurance money.
This brings up an issue of the insurance company's responsibility. Obviously, they are not responsible for the murders, they did not drive a car over the men. What they did was issue the policies that provided motivation for the murders.
The insurance industry has a concept called "insurable interest." The idea is that you cannot take out a policy on something or someone for which or whom you do not have a financial interest. You can't take out an auto insurance policy on MY car, cause you might run me off the road and collect. You can't take out a fire insurance policy on MY house, because if it mysteriously burns down you have lost nothing and gained the proceeds of the insurance policy. And you can't take out an insurance policy on MY life, because I don't want to have to watch my back.
There was no insurable interest in this case. The insurance companies must be held to a higher level of responsibility when policies are issued that endanger unwitting victims.