Tampa Contractor Sentenced to 4 Years, Ordered to Pay $55M for Fraud and Safety Violations
A Tampa-based contractor was sentenced to four years in prison and ordered to pay over $55 million in restitution for fraud, tax evasion, and workplace violations that led to an employee’s death.
February 24
Fraud
Litigation
Risk Management
Workers' Compensation
Florida
Hackers Pull Off Record-Breaking $1.5 Billion Crypto Heist Targeting Bybit
Bybit, a major cryptocurrency exchange, suffered the largest crypto heist in history as hackers stole $1.5 billion in digital assets. Analysts link the attack to North Korea’s Lazarus Group.
February 24
Fraud
Insurance Industry
Risk Management
Technology
Heavy Snowfall Causes Roof Collapses Across Central New York
Oswego County officials report at least 26 roof collapses following record snowfall, prompting emergency measures and rescue efforts as structural risks continue to rise.
February 24
Catastrophe
Insurance Industry
Property
Risk Management
New York
Maryland’s Crackdown on Workplace Fraud Uncovers Thousands of Misclassified Workers
Maryland’s Joint Enforcement Task Force on Workplace Fraud identified over 5,500 misclassified workers in 2024, recovering millions in lost wages and tax revenue while proposing stronger enforcement measures.
February 24
Legislation & Regulation
Litigation
Risk Management
Workers' Compensation
Maryland
Rising Insurance Costs and Severe Thunderstorms: How Convective Storms Are Reshaping Risk
Severe convective storms are a major driver of rising insurance costs, with hail, tornadoes, and strong winds causing billions in property damage. Understanding storm patterns can help insurers manage risk effectively.
February 24
Catastrophe
Insurance Industry
Property
Risk Management
Alabama
Florida
Georgia
Illinois
Indiana
California Drivers Targeted by Predatory Towing Scam After Accidents
A fraudulent tow truck scheme is spreading across California, with scammers seizing vehicles after crashes and demanding excessive fees before releasing them to owners.
February 21
Auto
Fraud
Legislation & Regulation
Litigation
California
Detroit Man Sentenced to Over Four Years for $1M Unemployment Fraud Scheme
A Detroit man has been sentenced to 51 months in prison and ordered to pay over $900,000 in restitution for his role in a multi-state unemployment fraud scheme targeting COVID-19 relief funds.
February 21
Fraud
Insurance Industry
Legislation & Regulation
Litigation
Maryland
Michigan
Pennsylvania
Two Men Face Prison for $161M Obamacare Fraud Scheme
Two individuals allegedly defrauded the Affordable Care Act by submitting false applications, leading to millions in commissions and subsidy fraud. They face multiple federal charges.
February 21
Fraud
Insurance Industry
Legislation & Regulation
Life & Health
Florida
Texas
Ohio Woman Sentenced for Arson and Insurance Fraud Scheme
Angela Frase of Sterling, Ohio, has been sentenced to two years in prison for staging a hate crime and committing insurance fraud after setting multiple fires at her home.
February 21
Fraud
Insurance Industry
Litigation
Property
Ohio
Dallas Man Sentenced to Over 13 Years for $5M Insurance Fraud Scheme
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.
February 21
Fraud
Insurance Industry
Litigation
Risk Management
Texas
Tesla Recalls 380,000 Vehicles Over Power Steering Assist Failure
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.
February 21
Auto
Litigation
Risk Management
Technology
Litigation Management Task Force Sets Clear Priorities for the Future
CLM’s Litigation Management Task Force is tackling industry-wide challenges, focusing on cost management, talent retention, and litigation guidelines to improve collaboration.
February 21
Insurance Industry
Litigation
Risk Management
Reconstruction Costs Skyrocket Over 60% in a Decade, but Growth Slows for 2025
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.
February 21
Insurance Industry
Legislation & Regulation
Property
Risk Management
Georgia Woman Sues Fertility Clinic Over Embryo Mix-Up That Led to Custody Battle
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.
February 21
Legislation & Regulation
Life & Health
Litigation
Risk Management
Georgia
South Carolina
Uninsured and Underinsured Drivers on the Rise in 2023, IRC Report Finds
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.
February 21
Auto
Insurance Industry
Legislation & Regulation
Risk Management
Colorado
District Of Columbia
Florida
Georgia
Kentucky
