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Police Allege False Classic Car Theft Was Part of Insurance Fraud Scheme

Police Allege False Classic Car Theft Was Part of Insurance Fraud Scheme

Police say a reported theft of a 1981 Fiat Spider was fabricated in an attempt to collect insurance proceeds. Investigators used license plate reader data and surveillance video to challenge the claim.
July 7 Auto Fraud New York

California Wildfire Contractor Fraud Leaves Homeowner Out $18,000

California Wildfire Contractor Fraud Leaves Homeowner Out $18,000

A California wildfire survivor says an unlicensed contractor took an $18,000 payment before abandoning the project. Insurance and fraud experts say similar scams are increasing after natural disasters across the United States.
July 7 Catastrophe Fraud Insurance Industry Property California

Massachusetts Supreme Judicial Court Says Workers’ Comp Rate Cut Lacked Explanation

Massachusetts Supreme Judicial Court Says Workers’ Comp Rate Cut Lacked Explanation

The Massachusetts Supreme Judicial Court upheld regulators' authority to reject proposed workers' compensation rates but ruled they must clearly explain how they arrived at a 14.6% statewide rate reduction. The decision sends the 2024 and 2025 rate rulings back for further review.
July 7 Insurance Industry Legislation & Regulation Underwriting Workers' Compensation Massachusetts

Manhattan High-Rise Evacuated After Buckled Columns Raise Collapse Concerns

Manhattan High-Rise Evacuated After Buckled Columns Raise Collapse Concerns

Structural columns failed during a major office-to-residential conversion in Midtown Manhattan, prompting evacuations, street closures, and an engineering assessment as officials work to stabilize the building.
July 7 Liability Litigation Property Risk Management Technology New York

Oregon Warns of Life Insurance Fraud Ring Using Unauthorized Policy Applications

Oregon Warns of Life Insurance Fraud Ring Using Unauthorized Policy Applications

Licensed insurance agents allegedly used personal information gathered through telemarketing calls to submit life insurance applications without consumers' knowledge. Regulators say the scheme is generating significant losses for insurers and exposing older adults to additional fraud risks.
July 6 Fraud Legislation & Regulation Life & Health Oregon

Iowa Insurance Agent Charged in Alleged Identity Theft and Insurance Fraud Scheme

Iowa Insurance Agent Charged in Alleged Identity Theft and Insurance Fraud Scheme

Iowa investigators allege an insurance agent opened policies using the identities of at least 11 family members without their knowledge, generating more than $36,000 in commissionable premiums. The case includes 23 felony charges and one aggravated misdemeanor.
July 6 Fraud Insurance Industry Legislation & Regulation Iowa

State Farm Releases Illinois Weather Data Showing 50,000 Catastrophe Claims Amid Rate Dispute

State Farm Releases Illinois Weather Data Showing 50,000 Catastrophe Claims Amid Rate Dispute

State Farm says Illinois homeowners filed 50,000 severe weather claims through mid-June as tornadoes and hail continue driving losses. The new data adds context to the insurer's ongoing dispute with Illinois regulators over homeowners insurance rates.
July 6 Catastrophe Insurance Industry Legislation & Regulation Property Underwriting Illinois

Smucker Wins Coverage Fight Over 2022 Salmonella Peanut Butter Recall

Smucker Wins Coverage Fight Over 2022 Salmonella Peanut Butter Recall

A federal appeals court ruled that the 2022 Jif peanut butter salmonella outbreak was a single occurrence under Smucker's liability policies, rejecting an insurer's effort to treat hundreds of contaminated product lots as separate occurrences.
July 6 Liability Litigation Risk Management Ohio

Insurers Allege Bank of America Processed More Than $1 Million in Flagged Fraud Transfers

Insurers Allege Bank of America Processed More Than $1 Million in Flagged Fraud Transfers

Two insurers that reimbursed a New Jersey company for an alleged fraud loss are pursuing subrogation against Bank of America. The lawsuit claims the bank processed wire and ACH transfers after employees flagged them as fraudulent.
July 6 Fraud Litigation Subrogation Technology New Jersey

Venezuela Earthquake Economic Losses Expected to Exceed $10 Billion

Venezuela Earthquake Economic Losses Expected to Exceed $10 Billion

The June 24 earthquake sequence caused widespread destruction across northern Venezuela. Verisk says economic losses will likely exceed $10 billion while uncertainty remains high for insured losses because of low insurance penetration and economic instability.
July 6

FIFA World Cup Referee Also Runs Insurance Advisory Business

FIFA World Cup Referee Also Runs Insurance Advisory Business

A FIFA World Cup referee who operates an insurance advisory firm highlights a specialty insurance market that is expanding as abuse, liability exposures, and retention challenges increase for sports officials worldwide.
July 6 Insurance Industry Liability Risk Management Underwriting

Plastic Surgery Malpractice Study Finds Clinical Judgment Drives Highest Claim Costs

Plastic Surgery Malpractice Study Finds Clinical Judgment Drives Highest Claim Costs

A review of nearly 2,000 closed malpractice claims found technical skill issues were the most common contributing factor, but clinical judgment failures produced the highest average indemnity payments. The findings offer new insight for underwriters, adjusters, and healthcare risk managers.
July 6 Liability Life & Health Litigation Risk Management Underwriting

Strong El Niño Forecast Signals Higher Weather Loss Risks for Insurers

Strong El Niño Forecast Signals Higher Weather Loss Risks for Insurers

The World Meteorological Organization says confidence is growing that a strong El Niño will develop, increasing the likelihood of extreme weather, record temperatures, and catastrophe-related insurance claims through 2026 and into 2027.
July 6 Catastrophe Property Risk Management

Heat Dome to Bring Dangerous Triple Digit Heat Across Much of the U.S.

Heat Dome to Bring Dangerous Triple Digit Heat Across Much of the U.S.

Triple digit heat, wildfire conditions, severe storms, and a tropical disturbance are creating multiple exposures for insurers and claims professionals as millions of Americans face dangerous weather during the holiday week.
June 30 Catastrophe Property Risk Management Workers' Compensation

Water Damage Tops Home Insurance Claims Despite Homeowners Fearing Fire

Water Damage Tops Home Insurance Claims Despite Homeowners Fearing Fire

A new PEMCO survey shows many homeowners overestimate fire risk while underestimating costly water damage, creating opportunities for insurers and agents to promote leak detection technology during policy renewals.
June 30 Property Risk Management Technology Underwriting Oregon Washington
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