Ransomware Losses Climb While Cyber Claims Frequency Drops in 2025
Cyber claims frequency fell 53% in H1 2025, but ransomware severity rose 17% as attackers became more targeted, with double and triple extortion tactics on the rise.
October 2
Fraud
Insurance Industry
Risk Management
Technology
Former New Orleans 911 Director Found Guilty of Insurance Fraud and Misuse of Emergency Authority
Former New Orleans 911 Director Tyrell Morris has been convicted of multiple charges, including insurance fraud and impersonating a peace officer, stemming from a 2023 crash.
September 29
Fraud
Insurance Industry
Legislation & Regulation
Litigation
Louisiana
Hanover Ordered to Pay Rock Singer $2 Million After Memphis Studio Fire Dispute
A federal court ruled Hanover must pay $2 million to rocker John Falls, finding the insurer wrongly denied coverage after a 2015 Memphis studio arson and policy dispute.
September 29
Fraud
Insurance Industry
Litigation
Property
Tennessee
Texas Insurance Agent Sentenced for Pocketing Nearly $300K in Premium Overcharges
A former Texas insurance agent has been sentenced to five years in prison after pleading guilty to stealing nearly $300,000 in premiums from a municipal waste authority.
September 22
Fraud
Insurance Industry
Legislation & Regulation
Risk Management
Texas
Property Insurance Claims Continue Three-Year Decline in Q2 2025, Verisk Reports
Verisk’s Q2 2025 report shows a 9.6% year-over-year decline in property claims, driven by fewer non-CAT losses despite a quarterly rise in wind and hail-related events.
September 22
Catastrophe
Fraud
Insurance Industry
Property
Queens Medical Supplier Targeted in GEICO’s $1 Million No-Fault Fraud Lawsuit
GEICO alleges a Queens-based supplier and clinics conspired in a kickback scheme that exploited New York’s no-fault insurance system and billed over $1 million in false claims.
September 15
Auto
Fraud
Insurance Industry
Litigation
New York
Pennsylvania Man Accused of Running $400 Million ATM Investment Scam
Federal authorities charged a Pennsylvania man with securities and wire fraud after allegedly defrauding investors through a fake ATM investment scheme worth over $400 million.
September 4
Fraud
Legislation & Regulation
Litigation
Risk Management
New Jersey
Pennsylvania
Younger Adults More Likely to Commit Insurance Fraud, Study Finds
A University of Georgia study finds Americans under 34 are significantly more willing to commit insurance fraud, often without realizing the legal or financial consequences.
September 2
Auto
Education & Training
Fraud
Insurance Industry
Wyndham Hotel Owner Accused of Orchestrating Vandalism Amid Insurance Dispute
The Wyndham Hotel owner is facing accusations of staging vandalism to claim $12.2 million in insurance damages, prompting a federal fraud countersuit by the insurer.
August 29
Fraud
Insurance Industry
Litigation
Property
Illinois
Detroit Couple to Face Trial over Alleged $150K Disability Insurance Fraud Scheme
A Detroit couple will stand trial on multiple felony charges after allegedly filing fraudulent disability insurance claims totaling $150,000, officials say.
August 29
Fraud
Insurance Industry
Litigation
Michigan
Michigan Insurance Agent Pleads No Contest to Fraud and Agrees to License Forfeiture
A Birmingham-based insurance agent admitted to fraud involving annuity applications for senior clients and will pay over $107K in restitution while surrendering his license.
August 29
Fraud
Insurance Industry
Legislation & Regulation
Life & Health
Michigan
Massachusetts Insurance Brokers Accused of Stealing Over $700K from Clients
A Massachusetts couple has been charged with wire fraud for allegedly stealing over $700,000 in client premiums through their insurance firm and issuing fake coverage documents.
August 29
Fraud
Insurance Industry
Legislation & Regulation
Property
Massachusetts
GEICO Sues New York Medical Supplier Over Alleged $620K Insurance Fraud Scheme
GEICO is suing a New York supplier it claims defrauded the insurer out of $620,000 through inflated billing, unnecessary medical equipment, and manipulated coding practices.
August 29
Auto
Fraud
Insurance Industry
Litigation
New York
JPMorgan Must Defend Elder Fraud Arbitration Claim from Widow
A federal judge ruled that JPMorgan must face arbitration over claims it failed to prevent a widow’s son from stealing $8.4 million from her bank accounts after her husband’s death.
August 20
Fraud
Legislation & Regulation
Litigation
Risk Management
California
Florida
Massachusetts
New York
North Carolina Resident Charged with 54 Felonies in $1.8 Million Travel Insurance Fraud Case
A North Carolina resident allegedly forged medical and travel documents to defraud insurers of nearly $1 million and attempted to steal close to another $900K between 2020 and 2024.
August 18
Fraud
Insurance Industry
Litigation
Property
North Carolina
