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The Saga of Suspended Law Firm MMA and Missing Insurance Payouts Continues

The Saga of Suspended Law Firm MMA and Missing Insurance Payouts Continues

When Hurricane Laura hit Lake Charles in August 2020, Aaron Sonnier's roof was badly damaged. He was lucky: his insurance company quickly paid for repairs. But when he started noticing more damage to the house in the following months, things got messy.
August 9, 2023 Fraud Litigation Property Louisiana

Former NBA Player Sentenced to 10 Years for Health Care Fraud Scheme

Former NBA Player Sentenced to 10 Years for Health Care Fraud Scheme

Terrence Williams, a former member of the Sacramento Kings, has been handed a 10-year prison sentence by a federal judge in Manhattan for orchestrating an elaborate plot to embezzle over $5 million from the NBA's health care program.
August 4, 2023 Fraud Life & Health New York

Cyber Threat Landscape: Insights from 23.5 Billion Attacks

Cyber Threat Landscape: Insights from 23.5 Billion Attacks

Technology is accelerating faster than it ever has before, giving IT and security teams more tools to fend off cybersecurity attacks from an increasingly diverse slate of bad actors, according to Comcast Business.
August 3, 2023 Fraud Technology

Economic Impact of Cybercrime on Business Predicted to Reach $10.5 Trillion by 2025

Economic Impact of Cybercrime on Business Predicted to Reach $10.5 Trillion by 2025

The threats that are posed by new technologies such as artificial intelligence (AI), which had consistently reduced since 2021, is now predicted to be a growing threat for the next 12 months ahead, according to Beazley's latest Risk & Resilience report: Spotlight on: Cyber & Technology Risks 2023.
July 14, 2023 Fraud Technology

An AOB Doesn’t Let You Get Away with Fraud, Florida’s 6th DCA Holds

An AOB Doesn’t Let You Get Away with Fraud, Florida’s 6th DCA Holds

Most property insurance policies contain 'Concealment or Fraud' provisions. As the name suggests, these provisions penalize claimants for material misrepresentations or concealment by releasing insurers from payment obligations, regardless of whether relevant claims would otherwise be covered.
July 13, 2023 Fraud Litigation Property Florida

Collision Center Owner Sentenced for $400K+ Insurance Fraud Scheme

Collision Center Owner Sentenced for $400K+ Insurance Fraud Scheme

After an extensive four-year investigation, the owner of a Pennsylvania auto body repair business has been sentenced for filing nearly 300 false insurance claims which resulted in over $400,000 in fraudulent payouts.
July 12, 2023 Auto Fraud Pennsylvania

Changing Perceptions: The Growing Acceptance of Insurance Fraud in the US

Changing Perceptions: The Growing Acceptance of Insurance Fraud in the US

Verisk and the Coalition Against Insurance Fraud have recently published a study shedding light on the demographics and psychology of insurance fraud in the United States.
July 6, 2023 Fraud

More Dishonesty About Honesty

More Dishonesty About Honesty

With the insurance industry so focused on improving the customer experience, many have turned to behavioral economists for insights into how customers actually think, as opposed to how we think they think or how we want them to think. But... wow... behavioral economists sure aren't doing much for their credibility.
June 27, 2023 Fraud Insurance Industry

 Man Pleads Guilty in $1.1M Accident Injury Conspiracy Plus COVID-19 Loan Scam

Man Pleads Guilty in $1.1M Accident Injury Conspiracy Plus COVID-19 Loan Scam

A Kansas City, MO, man who formerly lived in Columbia, MO, pleaded guilty in federal court to his role in a $1.1 million insurance fraud conspiracy that involved false claims of injuries suffered in car accidents, as well as to his role in a conspiracy to fraudulently obtain COVID-19 relief benefits.
June 23, 2023 Auto Fraud Liability Missouri

OKCoin’s Fake Insurance Claims Draw the Ire of FDIC

OKCoin’s Fake Insurance Claims Draw the Ire of FDIC

The U.S. Federal Deposit Insurance Corporation (FDIC) has warned the OKCoin exchange over fake insurance claims on its advertising materials and social media.
June 22, 2023 Fraud Legislation & Regulation

Gain the Upper Hand on Cybercrime

Gain the Upper Hand on Cybercrime

Cybersecurity Ventures estimates cybercrime will take a $10.5 trillion toll on the global economy by 2025. If it were measured as a country, the underground cybercriminal economy would be the third largest in the world after the U.S. and China.
June 20, 2023 Fraud Risk Management Technology

Why Do Claimants Lie?

Why Do Claimants Lie?

The courtroom was impassioned, to say the least, and downright angry at what they were hearing. In our post-COVID-19 reality, the claimant in a workers' compensation case was presenting lengthy testimony by video. The judge sat calmly as the claimant spoke about a seemingly horrific injury.
June 15, 2023 Fraud Workers' Compensation

Texas Police Bust Auto Theft Ring That Stole $2.5M in Trucks in One Month

Texas Police Bust Auto Theft Ring That Stole $2.5M in Trucks in One Month

Detectives with the Plano Police Department said suspected thieves stole more than $2.5 million worth of trucks and SUVs from around North Texas. Details about the alleged crimes, which reads like a crime series on a streaming platform, were detailed in an arrest probable cause affidavit.
June 15, 2023 Auto Fraud Texas

A New Frontier in ID Verification

A New Frontier in ID Verification

Despite the industry's stodgy reputation, insurance is often ahead of the curve, embracing new technologies that improve efficiency, enhance customer experience and increase profitability.
June 13, 2023 Fraud Insurance Industry Technology

Family Lawyers Slam Alex Murdaugh’s Attempt to Void Confession in $4M Insurance Money Theft Case

Family Lawyers Slam Alex Murdaugh’s Attempt to Void Confession in $4M Insurance Money Theft Case

Lawyers for the family of Alex Murdaugh's late housekeeper Gloria Satterfield -- who died after a fall at the family's home in 2018 -- have responded to Murdaugh's motion to vacate his confession of stealing over $4 million in insurance money meant for Satterfield's family.
June 12, 2023 Fraud Liability South Carolina
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