Business income (interruption) insurance has received a lot of attention since the beginning of the pandemic due to business closures across the globe. Unfortunately for business owners (in the U.S. and most other countries), business income losses were not covered due to a virus exclusion.

New York Attorney General Letitia James sued former President Donald Trump, the Trump Organization and others, including the ex-president’s eldest children, for financial fraud on Wednesday, in a lawsuit that includes allegations that the organization made misrepresentations in its purchase of surety bonds and directors and officers liability insurance.

Insurance fraud is anything but a new concern for insurance companies and counsel. A simple online search reveals a litany of articles, investigations and reports of scams and schemes developed by would-be plaintiffs to secure damages based on accidents that were not accidental and injuries that were never sustained.

Workers’ compensation fraud takes three main forms -- claim fraud, premium fraud and provider fraud -- and the effects on honest employers and employees can be devastating. New analysis from the Coalition Against Insurance Fraud found the combined fraud burden for the workers’ comp line weighs in at $32 billion per year.

The U.S. Department of Labor’s Occupational Safety and Health Administration ordered Wells Fargo & Co. to pay more than $22 million to a former executive whom the bank allegedly fired for reporting financial misconduct, the agency said Thursday.

Email scams and viruses are nothing new -- threats like phishing emails and malware have been around since the days when services like AOL still dominated the internet and email landscape.

While we all know that insurance fraud is a massive problem, we now know just how massive: more than $300 billion-a-year massive, just in the U.S. That figure comes from the Coalition Against Insurance Fraud, whose estimate would mean that fraud costs each person in the U.S. some $930 a year and the average family some $3,750.

The owner of the Chalfont Collision Center faces third-degree felony charges for allegedly submitting nearly 300 false insurance claims over several years to four insurance companies and pocketing more than $426,000 in payouts.

State Farm Fire and Casualty Co. has agreed to pay the federal government $100 million for potential liability over its handling of flood insurance claims after Hurricane Katrina, settling a lawsuit that two whistleblowers filed against the company more than 16 years ago.

Imagine a cybersecurity catastrophe like this one: A pharmaceuticals maker suffers a data breach, but no data is stolen and no ransomware is deployed. Instead the attacker simply makes a change to some of the data in a clinical trial -- ultimately leading the company to release the wrong drug.

When new homeowners close on a house, there is a need for the home’s title to switch to their names. Title agencies, such as ABL Title Insurance Agency, tend to have professional liability insurance policies to protect them in the event something is amiss.

On August 12, 2022, the U.S. District Court for the District of Minnesota dismissed a policyholder’s complaint seeking a declaration that $600,000 in social engineering fraud loss fell within a crime policy’s computer fraud coverage.

The attorneys handling a $1.1 billion settlement for victims in the deadly collapse of a Miami condo say the settlement fund is inundated with fraudulent victims. A court filing written by Michael Goldberg, one of the attorneys in the case, identified 458 ‘presumptively fraudulent’ claimants out of 740 claims.

A Delaware bankruptcy judge has approved parts of the Boy Scouts of America’s reorganization plan but rejected other provisions, saying in a recent ruling that the organization has ‘decisions to make.’ One part Judge Laurie Selber Silverstein refused to approve was $250 million coming from The Church of Jesus Christ of Latter-day Saints to help settle claims alleging child sexual abuse by Scout leaders.

Faced with increasing competition, insurance providers are adding new products and offering better deals to take a slice of the $200 billion in revenue opportunity. Yet, providing an experience that meets the needs of today’s customers can prove challenging, especially when it comes to seamlessly authenticating customers.