Fraud Management

Can Willful Ignorance Cost an Insurer $91 Million?
Risk Management Can Willful Ignorance Cost an Insurer $91 Million?

In a landmark decision that sent shockwaves through the insurance and legal communities, a Massachusetts judge ordered Liberty Mutual and its affiliates to pay a staggering $91 million judgment, not for the physical injuries a construction worker suffered, but for the company's deliberate and

Is GEICO Fighting a $2.7M Medical Fraud Ring?
Regulatory & Compliance Is GEICO Fighting a $2.7M Medical Fraud Ring?

A major federal lawsuit has brought to light allegations of a complex, multimillion-dollar fraud scheme targeting New York's no-fault insurance system, pitting one of the nation's largest auto insurers against a pair of medical supply companies and their owner. The insurance giant GEICO filed a

Is Seeing Still Believing for Your Business?
Insurance Is Seeing Still Believing for Your Business?

With the launch of AI models like Nano Banana Pro, which can generate flawless photorealistic images and text, the line between real and synthetic media is dissolving at an alarming rate. For corporate leaders and risk managers, this isn't a future problem; it's a present and escalating crisis. To

Verisk and Carpe Data Streamline Claims Fraud Detection
Technology & Trends Verisk and Carpe Data Streamline Claims Fraud Detection

In an era where sophisticated insurance fraud poses a continually escalating financial threat to property and casualty insurers, the imperative for more integrated and intelligent detection tools has never been more critical. The industry has long grappled with fragmented systems and data silos

Appeals Court Upholds Lindberg's Civil Contempt Order
Regulatory & Compliance Appeals Court Upholds Lindberg's Civil Contempt Order

A landmark decision from the North Carolina Court of Appeals has sent a powerful message regarding judicial oversight in complex financial cases, affirming a lower court's civil contempt order against financier Greg Lindberg and his company, Global Growth. The appellate court's ruling on December

Calgary Dentist Faces Prison for $700K Insurance Fraud
Risk Management Calgary Dentist Faces Prison for $700K Insurance Fraud

In a case that has sent ripples through Calgary’s healthcare community, Dr. Alena Smadych, a 55-year-old dentist, stands accused of defrauding five insurance companies out of nearly $700,000 with fake dental claims. Operating from her clinic, All About Family Dental, Smadych allegedly submitted

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