In an unexpected turn of events, the state of Iowa has revoked the insurance license of Dallas L. Schwarz, a Sioux City-based insurance agent formerly employed by Washington National Insurance Company. Schwarz’s professional downfall stemmed from a series of fraudulent activities he conducted while
The insurance industry is grappling with multifaceted challenges as it seeks to effectively combat fraud. With mounting internal and external pressures, insurers must calibrate their strategies to stay ahead of fraudulent activities. The increasing sophistication of fraud techniques, alongside
The paradox within the insurance industry is starkly highlighted by current investments in fossil fuels and their consequent environmental impact. As insurers face significant financial losses due to climate change-related damages, they continue to invest in industries that exacerbate these risks.
In Florida, a scheme intended to defraud insurance companies has emerged, involving three Cuban citizens who reportedly orchestrated staged car accidents in a sophisticated operation. These fraudulent activities led to insurance companies being duped out of more than $84,000. The individuals at the
Kennedys' legal tech group has unveiled an innovative tool known as Kennedys IQ SmartRisk, designed to revolutionize risk analysis in the insurance sector. The company integrates advanced technological solutions, moving away from traditional, opaque AI models to provide clear and transparent
In the ever-evolving landscape of Canada's financial markets, the Office of the Superintendent of Financial Institutions (OSFI) has updated its Annual Risk Outlook for the current period. This report identifies numerous significant risks that may impact the financial sector and outlines
