Regulatory / Legal
June 29, 2022
Via: Insurance BusinessNew South Carolina grand jury indictments have been filed against controversial insurance fraud attorney Alex Murdaugh and his alleged accomplice Curtis Eddie Smith. Murdaugh, 54, is currently in jail on a $7 million bond following more than 70 criminal charges […]
June 27, 2022
Via: Insurance BusinessFlorida’s Office of Insurance Regulation (OIR) has established the personal property and commercial property insurance rates of Citizens Property Insurance Corporation – the state-backed insurer of last resort – for 2022. The OIR held a virtual public rate hearing to […]
June 24, 2022
Via: Insurance JournalHomeowners in the US got new guidance to help them defend against increasingly frequent wildfires and associated rising insurance premiums. The Insurance Institute for Business & Home Safety, a research nonprofit funded by insurers, announced it has developed the first […]
June 23, 2022
Via: Insurance JournalThe head of a small, South Florida investment firm has been charged with insurance fraud after he submitted a $300,000 roof-leak claim to his insurer, American International Group, along with allegedly fake photos of mold and other damage to his […]
June 17, 2022
Via: Reinsurance NewsWestminster Council has called on UK government reinsurer Flood Re to be expanded due to its ‘restrictive criteria’ making it unavailable to private renters or properties with four flats or more. As reported by London’s Evening Standard newspaper, the council […]
June 15, 2022
Via: Artemis BMThe insurance and reinsurance industry would have welcomed “reforms that helped the industry today” in Florida’s property insurance market, according to the CEO of CaseGlide, as notices of intent to litigate claims rose 10% in the state in May. That’s […]
June 6, 2022
Via: Insurance BusinessA federal grand jury in Chicago has charged 23 people with participating in an insurance fraud scheme that allegedly bilked 10 life insurance carriers out of at least $26 million in benefits. The defendants allegedly submitted fraudulent applications in order […]
June 6, 2022
Via: Reinsurance NewsState Governor Phil Scott has signed new legislation into law that aims to modernize Vermont’s captive insurance statutes and remove inconsistencies. This year’s bill proposed several updates to Vermont’s captive insurance law, including the ability for captive insurance companies to […]
June 3, 2022
Via: Insurance JournalA former Ohio insurance agent was arrested June 2 on federal charges alleging he defrauded dozens of victims in the Cincinnati and Dayton area and fraudulently obtained two COVID Paycheck Protections Program loans. Seneca Birchmore, 44, of Cincinnati, lost his […]
May 27, 2022
Via: Insurance JournalFlorida Gov. Ron DeSantis signed property insurance and condominium maintenance reform legislation into law Thursday, putting an exclamation point on a whirlwind of lawmaking that began just a week ago when the bills were drafted and filed. “This package represents […]