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Tag: insurance fraud


Regulatory / Legal

Massive insurance fraudster hit with new state grand jury indictments

June 29, 2022

Via: Insurance Business

New 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 […]


Regulatory / Legal

‘Well-to-Do’ Investment Firm Head Charged in $300,000 South Florida Insurance Fraud

June 23, 2022

Via: Insurance Journal

The 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 […]


Regulatory / Legal

Twenty-three people charged in massive life insurance scam

June 6, 2022

Via: Insurance Business

A 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 […]


Regulatory / Legal

Ex-Ohio Insurance Agent Arrested for Defrauding Customers

June 3, 2022

Via: Insurance Journal

A 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 […]


Financial, Risk Management

Fraudulent disaster claims cost P&C insurers extra $4.6bn to $9.2bn

May 18, 2022

Via: Artemis BM

Fraud, litigation, claims inflation, social inflation, loss adjustment expenses, there seems a multitude of reasons for natural disaster insurance claims to become amplified and for higher loss costs to ultimately flow to providers of reinsurance capital, including ILS funds and […]


Regulatory / Legal

Florida Man Charged with Fraud After Claiming He was in Uber Crash

May 2, 2022

Via: Insurance Journal

A South Florida man has been charged in connection with what appears to be a new twist on auto insurance fraud. State and local authorities said that Victor Van Vickery, 33, of Delray Beach, claimed to be in a Uber […]


Regulatory / Legal

CFO sentenced for part in $33 million insurance fraud case

March 31, 2022

Via: Insurance Business

A Connecticut woman has been sentenced to 66 months in prison for her role in an insurance and loan fraud scheme worth $33 million. Erin Verespy, 50, was accused of misappropriating client healthcare funds and defrauding multiple lenders. The chief […]


Regulatory / Legal

Secretary headed to jail after $220k insurance scam

February 22, 2022

Via: Insurance Business

A Rhode Island woman is headed to federal prison for stealing insurance payments meant for the customers of the auto repair shop where she worked as an office secretary, according to the Department of Justice. Idalee Johnston, 48, devised a […]


News

California man headed to prison for unemployment insurance scam

February 16, 2022

Via: Insurance Business

A California man is headed to prison after admitting to unemployment insurance fraud to the tune of more than $170,000. Kier Jordan Parker, 25, fraudulently obtained unemployment benefits by submitting multiple unemployment claims in other people’s names and using benefits […]


News

Owner of Cosmetic Clinics in California Admits $20M Insurance Fraud

February 11, 2022

Via: Insurance Journal

The former owner of a group of health spas and clinics in Los Angeles has admitted to participating in a $20 million insurance fraud scheme involving Botox injections, laser hair removal and other procedures, federal prosecutors said. Roshanak Khadem, 54, […]