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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

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

NAIC Confirms 3.1TB Data Published After Cyberattack by ShinyHunters

NAIC Confirms 3.1TB Data Published After Cyberattack by ShinyHunters

The publication of stolen NAIC data has interrupted investment designation activities and highlights how attacks on insurance regulators can ripple across the industry. Investigators continue to assess the breach while insurers monitor potential operational and cybersecurity impacts.
June 29 Insurance Industry Legislation & Regulation Risk Management Technology

Washington Restaurants Ordered to Pay $750K in Unpaid Wages

Washington Restaurants Ordered to Pay $750K in Unpaid Wages

A federal court ordered four Washington restaurants to pay $750,000 in back wages and damages to 42 workers after a U.S. Department of Labor investigation found overtime, minimum wage, child labor, and retaliation violations.
June 29 Legislation & Regulation Litigation Washington

Supreme Court Rules Roundup Cancer Claims Barred by Federal Pesticide Labeling Law

Supreme Court Rules Roundup Cancer Claims Barred by Federal Pesticide Labeling Law

The 7-2 decision overturns a Missouri jury verdict and finds federal pesticide labeling law preempts state failure-to-warn claims. The ruling could significantly reduce Bayer's exposure in thousands of pending Roundup lawsuits.
June 25 Legislation & Regulation Liability Litigation Risk Management

Texas Man Charged in Utah Ghost Broker Scheme Involving 1,100 Fraudulent Auto Insurance Policies

Texas Man Charged in Utah Ghost Broker Scheme Involving 1,100 Fraudulent Auto Insurance Policies

Utah regulators say a Texas man used false information to obtain more than 1,100 auto insurance policies and collected payments from consumers whose coverage could have been invalid when claims were filed.
June 24 Auto Fraud Insurance Industry Legislation & Regulation Litigation Texas Utah

Health Care Fraud Crackdown Targets $6.5 Billion in Alleged False Claims

Health Care Fraud Crackdown Targets $6.5 Billion in Alleged False Claims

Federal prosecutors announced charges against hundreds of defendants in alleged Medicare, Medicaid, wound care, opioid, hospice, and behavioral health fraud schemes. Investigators credited advanced data analytics and coordinated enforcement efforts for identifying the cases.
June 23 Fraud Legislation & Regulation Life & Health Risk Management Technology

Verisk: U.S. Property and Casualty Industry Combined Ratio Improves to 92.4%

Verisk: U.S. Property and Casualty Industry Combined Ratio Improves to 92.4%

Improved personal auto results and lower catastrophe losses helped U.S. property and casualty insurers return to strong underwriting profitability. Claims severity and litigation-related costs remain significant concerns for carriers.
June 23 Auto Catastrophe Insurance Industry Legislation & Regulation Litigation

Houston-Area Clinic Owner Accused in $906 Million Medicare and Tricare Fraud Scheme

Houston-Area Clinic Owner Accused in $906 Million Medicare and Tricare Fraud Scheme

Federal prosecutors allege a Houston-area clinic owner and co-conspirators submitted hundreds of millions of dollars in fraudulent Medicare and Tricare claims tied to medically unnecessary allograft procedures. Investigators say the scheme generated nearly $300 million in government payments and involved kickbacks and patient referrals.
June 22 Fraud Insurance Industry Legislation & Regulation Life & Health California Hawaii Nevada Texas

Pennsylvania Supreme Court Allows Physician Referrals to Pharmacies They Own

Pennsylvania Supreme Court Allows Physician Referrals to Pharmacies They Own

A Pennsylvania Supreme Court ruling found that the state's workers' compensation self-referral law does not apply to pharmacies, allowing physicians to refer injured workers to pharmacies in which they have a financial interest. The decision could fuel ongoing disputes over prescription drug costs and billing practices.
June 19 Fraud Insurance Industry Legislation & Regulation Workers' Compensation Pennsylvania

SpaceX IPO Raises Novel Insurance Question About Elon Musk Risk

SpaceX IPO Raises Novel Insurance Question About Elon Musk Risk

SpaceX's public filings place extraordinary emphasis on Elon Musk's role in the company's value. A new legal analysis argues that investors may have a legitimate insurable interest in his continued life under Texas law, raising broader questions about key person risk and insurance capacity.
June 12 Insurance Industry Legislation & Regulation Litigation Risk Management Underwriting

Duke Energy Warns of Potential Outages During Carolinas Heat Emergency

Duke Energy Warns of Potential Outages During Carolinas Heat Emergency

Utility warns record electricity demand could force outages in the Carolinas unless generators are allowed to temporarily exceed environmental permit limits during a multi-day heat event.
June 12 Catastrophe Insurance Industry Legislation & Regulation Property Risk Management North Carolina South Carolina

SpaceX IPO Could Reshape D&O Insurance and Securities Claims Risk

SpaceX IPO Could Reshape D&O Insurance and Securities Claims Risk

SpaceX's proposed shareholder arbitration requirements and a surge in AI-related IPOs could change securities litigation exposure while prompting insurers to broaden D&O coverage offerings.
June 12 Insurance Industry Legislation & Regulation Liability Litigation Underwriting
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