Every year, financial crime becomes more sophisticated, new malware emerges and fraud losses rise. Top that problem up with continuously evolving regulations and hefty non-compliance penalties, and financial institutions are facing an increasingly complex risk landscape.
Seventeen tobacco farmers have agreed to resolve civil allegations that they violated the False Claims Act, a federal law that prohibits submitting false or fraudulent claims for payment to the government.
There is growing awareness that governments can transfer the financial risk of natural disasters to both insurance and capital markets, a Swiss Re expert observes.
Too many people live to blend into the woodwork, to be middle of the pack. Not outstanding enough that people try to knock them off balance, but not mediocre sufficient that their heads are on a chopping block.
A total of 26 homes were lost or damaged due to the CalWood Fire, officials said Sunday evening, though that number is expected to increase when damage assessment teams return to some of the affected areas.
Lloyd’s of London has launched a new review of its insurance contracts, taking a new look at the way products are created and sold. The purpose is to develop simpler products in response to the COVID-19 pandemic.
The industry’s concern over carbon emissions, and their impact on climate change, raises the question of whether nuclear energy is better for the environment.
Calling its employees’ conduct “flagrant, deceitful and outrageous,” a Lehigh County judge on Thursday levied $900,000 in punitive damages against an insurance company that denied an Allentown couple’s stolen car claim in 2016.
This year North Carolina has seen a 90 percent increase in efficiency for managing cases related to insurance fraud. The key to the state’s success is a new tool called the Insurance Crimes Investigation System (ICIS), which was implemented in March after well more than a year of design and development.
