Which type of fraud is characterized by intent to deceive an insurance company for financial gain?

The correct choice highlights the essence of the term "insurance fraud," which specifically refers to the act of deceitfully obtaining benefits or financial gain by manipulating or falsifying information related to insurance claims. This type of fraud is a premeditated crime, where an individual intentionally presents false information, submits bogus claims, or misrepresents facts to the insurance company. The fraudulent intent drives the action, making it distinct from other types of misrepresentations.

Accidental misrepresentation involves unintentional mistakes or misstatements, which lack the deliberate intent to deceive. Simple error refers to genuine mistakes that may occur in paperwork or claims without any illegitimate intention behind them. Fraudulent application, while closely related, specifically pertains to the application process where false information is provided, yet it does not encompass the broader category of deceitful claims actions. Thus, identifying the comprehensive definition of "insurance fraud" is crucial for understanding the nature of these intentional deceptive practices within the insurance sector.