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.
  August 30   Insurance Thought Leadership Auto Fraud Life & Health Property Technology

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.
  August 26   Patch Auto Fraud Pennsylvania

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.
  August 25   The Sun Herald Catastrophe Fraud Liability Litigation Mississippi

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.
  August 24   Protocol Fraud Technology

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.
  August 23   Risk & Insurance Fraud Risk Management

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.
  August 18   JD Supra Fraud Litigation Minnesota

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.
  August 11   WMBB Fraud Florida

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.
  August 4   The Salt Lake Tribune Fraud Liability Litigation Delaware

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.
  July 26   Insurance Thought Leadership Fraud

The human accomplishments that happened before the widespread use of email are numerous. To name just a few: Pizza was invented. Mozart wrote symphonies. People built spacecraft, flew them to the moon and walked on the lunar surface.
  July 21   Risk & Insurance Fraud Risk Management

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