Rising settlements and third-party litigation funding (TPLF) trends drive higher risks and costs for insurers, impacting policyholders and consumer prices.
A licensed insurance agent from Nash County has been charged with 74 felony counts, including identity theft and forgery, after allegedly forging life insurance applications to obtain funds illegally.
North Carolina has experienced a significant increase in insurance fraud since the COVID-19 pandemic, with seniors being heavily targeted by scams. State officials are urging vigilance and reporting to combat the issue.
At Carrier Management’s annual InsurTech Summit, Frank Giaoui of Optimalex Solutions and Shane Riedman of Verisk explored how artificial intelligence (AI) is revolutionizing property/casualty insurance claim processing.
Bradley Pierre has been sentenced to 10 years in prison for orchestrating a $60 million fraud targeting No-Fault automobile insurance companies, marking one of the largest such frauds in New York history.
Fraud detection, historically reliant on human analysts, is being revolutionized by big data and advanced analytics, enabling automated and enhanced detection methods.
A Detroit Man was sentenced to 63 months in prison and ordered to pay $512,000 in restitution for committing unemployment fraud during the COVID-19 pandemic.
Join Medicare Fraud Prevention Week to learn and share actions to prevent fraud, errors, and abuse in Medicare. Running from June 3 through June 9, this event is hosted by the Administration for Community Living and the Senior Medicare Patrol (SMP).
Authorities in Miami-Dade County charge six individuals with orchestrating a staged crash insurance fraud scheme following an undercover operation in the Miami area.
Donovan Young, Aaron Young, and James Hoffman face up to 20 years in federal prison for their involvement in a wire fraud conspiracy defrauding home improvement stores.
Dennis S. Lepka, Jr. was sentenced to six and a half years in federal prison for orchestrating a fraudulent real estate scheme, targeting vulnerable communities and causing significant financial losses.
Insurance adjusters on Reddit are engaging in a detailed discussion about handling situations where policyholders file new claims for damage to their property that was previously claimed but not repaired.
A Montana plumber was sentenced to five years in prison, suspended for five years of probation, and a 30-day term of house arrest for presenting a falsified insurance certificate.
