Latest Fraud Headlines
All the headlines from our Fraud Topic Page, ordered by recency.
Florida’s Citizens to Re-Bid Part of Contract for Property Reinspections
Jan 26 2010 // Florida’s state-backed property insurer will seek competitive bids on part of a contract to reinspect as many as 400,000 properties that have been awarded $700 million in mitigation discounts off their insurance...
Georgia Insurance Broker’s Bookkeeper Charged With Stealing $1 MIllion
Jan 25 2010 // A 63-year-old former bookkeeper at a Dalton, Georgia insurance brokerage is facing federal charges she embezzled more than $1 million from her employer. Prosecutors say Carolyn Lynn Cherry of Chatsworth forged her...
UK Fraud Costs $48 Billion a Year; ABI Calls for ‘Zero Tolerance’
Jan 25 2010 // The UK’s National Fraud Authority’s Annual Fraud Indicator has concluded that fraud costs the UK over £30 billion [$48 billion] a year. The finding prompted an immediate response from the Association of...
Insurance Fraud Rises as State Bureaus’ Budgets Fall
Jan 24 2010 // State insurance fraud fighting bureaus are seeing a significant spike in fraud cases while trying to manage with lower budgets and staffing in the down economy of 2009. Cases increased in all 15 types of fraud schemes,...
5 Issues Agents Should Watch in 2010
Jan 24 2010 // With insurance agents across the nation breathing a sigh of relief that 2009 is behind them, their focus has turned to the future: What will 2010 bring for the industry? These emergent issues are important not only for...
Former Insurance Co. Employee Sentenced for Stealing from Carrier, Agents
Jan 21 2010 // Mark Camacho, 41, of Cedar Hill, Texas, a former employee of Americo Life Insurance Co., was sentenced in federal court for stealing more than $900,000 from the carrier and its agents’ commission accounts. Chief U.S....
College Station, Texas, Expands Auto Theft Prevention Program
Jan 20 2010 // The Insurance Council of Texas (ICT) and the College Station Police Department are expanding a crime prevention campaign aimed at preventing auto thefts and auto burglaries. The program involves the funding and...
Ex-Minnesota State Worker Focus of Probe of Fraud Aimed at Businesses
Jan 20 2010 // State investigators are trying to determine the scope of a check fraud scheme that they say could count hundreds of Minnesota businesses among its victims. The woman at the center of the investigation is a former employee...
General Re Settles Fraud Charges Over AIG, Pru Financials
Jan 20 2010 // The Securities and Exchange Commission today charged General Re Corp. for its involvement in separate schemes by American International Group (AIG) and Prudential Financial, Inc. to manipulate and falsify their reported...
Four Agents Plead Guilty to Insurance Fraud in New Jersey
Jan 14 2010 // Four former insurance agents have pleaded guilty for their role in a scheme to steal hundreds of thousands of dollars in premiums, New Jersey’s attorney general said. They are Thomas Hurd, of Bensalem, Pa., William...
Missouri AG: Workers’ Comp Fraud Collections Spike in 2009
Jan 12 2010 // Missouri Attorney General Chris Koster reported that his office saw a dramatic increase in the amount of collections and convictions for workers’ compensation fraud and for noncompliance with mandatory workers’...
Insurance Fraud Rises As State Bureaus’ Budgets Fall
Jan 11 2010 // State insurance fraud fighting bureaus are seeing a significant spike in fraud cases while trying to manage with lower budgets and staffing in the downturned economy of 2009, according to a survey by the Coalition Against...
Pennsylvania Sting Nets 24 Arrests for Auto Insurance Fraud
Jan 10 2010 // Twenty-four people, including 17 New York residents, six from New Jersey and one Pennsylvania resident, have been charged with insurance fraud and other related offenses after falsely claiming to be Pennsylvania residents...
Arizona Mulls Shutting Insurance Fraud Unit
Jan 10 2010 // With a $2 billion state budget deficit looming, Arizona may become the first state in the country to abolish the anti-fraud unit of its Department of Insurance. Should Arizona do that, insurance rates in the state could...
Pennsylvania Insurance Agents Accused of Stealing $1M
Jan 8 2010 // Two Pennsylvania insurance agents accused of stealing more than $1 million that was supposed to pay for workers’ compensation and liability insurance for six Berks County public school districts, have been arrested...
Washington Saves $128 Million By Fighting Fraud
Jan 7 2010 // The fight against fraud in the workers’ compensation system brought in $128 million to Washington last year, according to a new report from the state Department of Labor & Industries (L&I). In addition to...
Securities Fraud Lawsuits Slide As Credit Crisis Eases
Jan 5 2010 // U.S. securities fraud lawsuits slid in 2009 as stocks rose and the credit crisis eased. Investors filed 169 prospective securities class-action lawsuits in 2009, down 24 percent from 223 in the prior year, according to a...
Michigan’s H.E.A.T. Recovers $51M in Stolen Property in 25 Years
Jan 5 2010 // Since its inception in 1985, tips to Michigan’s Help Eliminate Auto Thefts (H.E.A.T.) program have led to recovery of more than $51 million in stolen property and arrests of more than 3,300 suspects involved in auto...
Pennsylvania Sting Nets 24 Arrests for Auto Insurance Fraud
Dec 30 2009 // Twenty-four people, including 17 New York residents, six from New Jersey and one Pennsylvania resident, have been charged with insurance fraud and other related offenses after falsely claiming to be Pennsylvania residents...
SEC Accuses Austin-Based Financial Services, Insurance Firm of Fraud
Dec 28 2009 // An Austin businessman and two of his companies are accused in an alleged scam using former NFL players to attract investors. The Securities and Exchange Commission last Tuesday filed securities fraud charges in federal...
