Arson, Public Adjuster Pockets Over $1M in Insurance Proceeds
(All images, information, and text courtesy of claimsjournal.com. Copyright 2018. All Rights Reserved) Read the Original Article here: https://www.claimsjournal.com/news/national/2018/03/28/283619.htm Two Plead Guilty to Insurance Fraud by Arson Two men pled guilty today in federal court for their respective roles in a scheme to commit insurance fraud by arson, announced United States Attorney Michael B. Stuart. Dudley Bledsoe, age 63, of Hanover, Wyoming County, and Ricky Dw
State Farm to Pay $352.5M to Settle Texas Residential Overcharge Case
(All images, information, and text courtesy of ClaimsJournal.com. Written by Stephanie K. Jones. Copyright 2015 Associated Press. All Rights Reserved) A settlement has been reached in a long-running dispute between the nation’s largest homeowners’ insurer and the state of Texas over premium overcharges. The Texas Office of Public Insurance Counsel (OPIC) announced Feb. 27 that a settlement had been reached requiring State Farm subsidiary, State Farm Lloyds, to refund $352.5 m
Flood Insurance Force Played by Your Lender?
(All content, images, and text courtesy of classaction.org.) Property owners who were forced or coerced into buying excessive flood insurance by their mortgage company or bank. Damages Property owners who had an unnecessary or excessive flood insurance policy force placed on them may be able to participate in a lawsuit to seek compensation for the additional costs of this coverage. Most residences in Special Flood Hazard Areas are already insured by flood insurance policies.
How to File a Complaint with Your State Department of Insurance
(All content, text and images are the sole property of and were provided by law.freeadvice.com.) Your state’s Department of Insurance (DOI) is a resource for information on insurance companies’ financial stability, but it also regulates insurance companies’ handling of claims for promptness, fairness in negotiations and good faith settlements. Simply put, you, as a consumer, have a right to file a complaint with them if you believe your insurance claim has been mishandled or
Bad Faith Insurance Companies
(All text, images, and content courtesy of law.freeadvice.com. All rights reserved.) Boicourt v. Amex Assurance Co.
Award: $2,006,000
A boy severely injured in a vehicle accident settled for more than $2
million pursuant to a policy that provided only $100,000 in coverage,
because the insurance carrier initially refused, in bad faith, to disclose
the policy limits.
Matson Terminals v. Home Insurance Co
Settlement: $33.65 million
Home Insurance Company denied coverage
Insurance Fraud
(All images, information, and text courtesy of Insurance Information Institute, Inc. All Rights Reserved) THE TOPIC Insurance industry estimates generally put fraud at about 10 percent of the property/casualty insurance industry’s incurred losses and loss adjustment expenses each year, although the figure can fluctuate based on line of business, economic conditions and other factors.[1] Using this measure, over the five-year period from 2008 to 2012, property/casualty fraud a
Using Technology to Resolve Auto Claims Quicker
(All images, information, and text courtesy of claimsjournal.com. Written by Denise Johnson) The ability to report claims via mobile devices and streamlining the payment process are among the advances in technology that have helped reduce the cycle time for auto damage claims, according to industry experts. In addition, technology has helped with sourcing parts, explained Susanna Gotsch, lead analyst for CCC. While the distribution of repair cost dollars has seen little chang
Lawsuit Accuses Anthem Blue Cross Of ‘Fraudulent’ Enrollment Practices
(All content, text, and images are the property of kaiserhealthnews.org. Written by Julie Appleby.) California insurance giant Anthem Blue Cross misled “millions of enrollees” about whether their doctors and hospitals were participating in its new plans, and failed to disclose that many policies wouldn’t cover care outside its approved network, according to a class action lawsuit filed Tuesday. As a result, many consumers have been left on the hook for thousands of dollars in
Geico is Facing Two Class Action Lawsuits for Shady Behavior
(All content, text, and images courtesy of ihlaw.com) Insurance companies facing legal action for bad behavior is nothing new. What’s interesting is the multitude of ways that these companies are found to be trying to get out of paying. Geico is the latest insurance company to get in hot water for it’s claims services. Two class action suits have been filed, one in Delaware and one in New York, against Geico Insurance. The suits allege, among other things, a series of disturb
Insurance company drops suits over Chicago area flooding
(All images, information, and text courtesy of chicagotribune.com. Written by Robert McCoppin, Tribune reporter) An insurance company has dropped its unprecedented lawsuit that had claimed that nearly 200 Chicago-area communities didn’t do enough to prevent last year’s widespread flooding. The class-action lawsuits were filed by Farmers Insurance Group in Cook and the collar counties, ostensibly on behalf of more than 600 property owners affected by the flood, and sought to m