The severe convective weather, thunderstorms, large hail and tornadoes that affected the United States this week is expected to aggregate to drive hundreds of millions of dollars in insured losses, according to Aon’s Impact Forecasting.
A 2019 ARCADIS Global Construction report determined that 30% of construction projects end in dispute. Any construction claims professional or construction attorney would argue that number is low.
With her plea of guilty to mail fraud conspiracy, Ishais Price, 41, has become the 32nd defendant to admit criminal responsibility in a scheme to stage 77 vehicle accidents with big trucks and buses in New Orleans, claim injuries, hire crooked lawyers and collect fat settlement checks from insurance companies.
The country’s insurance industry consists of an estimated 7,000 companies, collecting more than $1 trillion in premiums each year, according to the latest figures from the Federal Bureau of Investigation (FBI). The law enforcement agency adds that because of its sheer size, the sector contributes significantly to the cost of insurance fraud by providing bigger opportunities and financial incentives to those committing illegal acts.
Last week, Russian President Vladimir Putin, with a stroke of his pen, upended the entire aviation industry in one fell swoop. After Bermuda suspended all airworthiness certificates for Russian-operated aircraft on its registry to comply with sanctions against Russia, Putin signed a law to allow regional and national airlines that leased aircraft from foreign companies to list on Russia’s registry and ‘to ensure the uninterrupted functioning of activities in the field of civil aviation.’
State Farm is facing a proposed class-action lawsuit that accuses the nation’s largest auto insurer of systematically underpaying thousands of total loss claims by applying a percentage discount to the value of comparable vehicles to account for ‘typical negotiation.’
Wounds can be a major cost driver in workers’ compensation claims. The costs to treat these pressure injuries can quickly and easily run up to $100,000 or more, especially if an injured worker must be hospitalized or develops complications such as infections.
The U.S. District Court in St. Paul has reconsidered its prior decision and ruled that Target Corp. can recover settlements it paid to banks in connection to a 2013 data breach under its general liability policy from its insurer, ACE American Insurance Company.
Insurers protecting Florida’s homeowners are going under. And it’s not the state’s infamous storms dragging the firms down -- it’s a deluge of lawsuits and fraud.
Louisiana’s governor declared a state of emergency on Wednesday after tornadoes sliced through the New Orleans area Tuesday night, lifting homes off their foundations, leaving thousands without power and killing at least one person.
The former owner of a Peabody construction company was sentenced today in connection with a scheme to defraud the IRS of payroll taxes and to defraud his workers’ compensation insurance carrier by failing to disclose how many workers he employed.
The first ever Hurricane Laura case heard by a federal court has ended in a decision against an insurance company and in favor of Joey Odem, the plaintiff who is the owner of a commercial property near Lake Charles’ Petro Point.
Blockchain technology is making inroads in the insurance sector. Used to automate and streamline processes for paying claims, blockchain is being embraced by more and more insurance entities looking for streamlined transactions.
A chain-reaction crash on an interstate in southeastern Missouri on Thursday morning left six people dead and resulted in a pileup of an estimated 135 vehicles, closing the highway in both directions for hours, the authorities said.
