Six insurance businesses in four states have been searched by federal agents looking for evidence of fraud involving viatical settlements. Agencies in Lexington, Ky., Grand Rapids and Byron, Mich., Lorain and Loveland, Ohio, and Atlanta were all searched.
According to early reports, no arrests have been made and documents relating to search warrants were still sealed. Losses from viatical settlement fraud is estimated at about $1 billion annually.
Topics Agencies
Was this article valuable?
Here are more articles you may enjoy.
Chubb Q1 Net Income Increases 74% on Fewer Catastrophe Losses 
Hedge Fund Money Is Reshaping a 180-Year-Old Insurance Model 
Three Sentenced in Bear-Suit Attacks Insurance Fraud Case 
NYC Mayor Eyes City-Run Insurance Program for Affordable Housing 
