Claims News Recap
February 26th - March 2nd
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Friday, March 2nd, 2018
Businesses operating in regulated industries, especially in the financial services sector, are facing greater fraud risks than ever before.
According to Javelin Strategy & Research, new account fraud increased 40% in 2016 to reach a record high. Fraud detection firm ThreatMetrix reported stopping more than 80 million fraud attempts using fake or stolen identity credentials targeting financial institutions in 2016. Unfortunately, fraud rates are only expected to increase further...
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Thursday, March 1, 2018
An Oregon developer serving a 10-year prison term in a mortgage-fraud scheme was sentenced Wednesday to nearly four more years because he ordered his teenage son to shoot him in the legs in a failed effort to collect on a disability insurance policy. Shannon Egeland was vice president of a development company that orchestrated tens of millions of dollars in mortgage fraud during last decade’s real estate boom and bust...
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Wednesday, February 28th, 2018
A new storm is expected to bring additional weather misery this week to areas struggling to recover from a relentless series of weekend storms and tornadoes. On Tuesday, downpours and gusty thunderstorms will drench areas from central Texas to central Arkansas and southern Tennessee, AccuWeather said...
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Tuesday, February 27, 2018
In our previous post, on Distribution, we pointed out that claims represents perhaps the most important customer touchpoint in the entire insurance journey. Nothing affects carriers’ bottom lines like claims; too many are not just capable of wiping out company margins but can jeopardise company survival full stop...
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Monday, February 26, 2018
The owner of a Nanuet window tinting business and his employee-wife face felony charges of ripping off the state workers compensation system by falsely reporting a car accident while on the job, authorities said Friday. Tammy Pena, 46, is accused of claiming she crashed a client’s Mercedes Benz while working at Sam’s Professional Window Tinting in Nanuet, but investigators found she had taken the car out for a joy-ride...
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