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

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