A Texas man was sentenced to 157 months in federal prison for orchestrating a $4.4 million insurance fraud scheme that involved stolen client information and misdirected payments.

Tesla is recalling nearly 380,000 Model 3 and Model Y vehicles in the U.S. due to a power steering assist failure linked to older software, increasing the risk of a crash.

CLM’s Litigation Management Task Force is tackling industry-wide challenges, focusing on cost management, talent retention, and litigation guidelines to improve collaboration.

Verisk’s latest report reveals that reconstruction costs are rising at a slower pace, approaching pre-pandemic levels. Residential and commercial costs are expected to grow modestly into mid-2025.

A Georgia woman claims a fertility clinic mistakenly implanted the wrong embryo, leading her to carry and give birth to another couple’s baby. She later had to surrender the child in an emotional legal battle.

A new Insurance Research Council (IRC) report reveals that over 33% of U.S. drivers in 2023 lacked sufficient auto insurance, marking a significant increase since 2017.

Delta Air Lines is offering $30,000 to each passenger of Flight 4819, which crash-landed and flipped upside down in Toronto. Investigators are still determining the cause of the accident.

Higher interest rates and improved underwriting have helped the US property and casualty insurance industry recover in 2024, with continued growth and profitability expected in 2025.

South Carolina’s liquor liability insurance market has been unprofitable since 2017, with insurers losing $1.77 for every $1.00 earned. Claim frequency far exceeds neighboring states, intensifying concerns.

Quantum computing’s rapid advancements may challenge traditional encryption, creating new cybersecurity risks. Experts emphasize the need for proactive defenses and cyber insurance strategies.

The final installment of the 2024 Global InsurTech Report explores how artificial intelligence is transforming the insurance claims process, from first notice of loss to settlement, while tracking investment trends in the InsurTech sector.

Florida’s insurance market is stabilizing, with reinsurance supply outpacing demand for the first time in years. However, challenges remain, particularly in the lower layers of reinsurance coverage, where costs continue to rise.

Saint Vincent’s Catholic Medical Centers of New York will pay $29 million to settle allegations of False Claims Act violations related to overpayments from the Department of Defense for healthcare services provided to retired military members and their families.

Las Vegas resident admits to conspiracy in filing over 1,200 false tax returns, securing $33M in fraudulent IRS refunds for personal gain.

Two Estonian men have pleaded guilty to running a $577 million cryptocurrency Ponzi scheme that defrauded hundreds of thousands worldwide. They now face up to 20 years in prison.