Former Allied World Insurance executive sentenced to 20 months for $1.4 mn fraud scheme
A federal judge sentenced James Keating to 20 months in prison and three years of supervised release for stealing more than $1.4 mn from Allied World Insurance
Insurance Fraud
American Transit Insurance sues for $450 mn in alleged fraud case
American Transit Insurance Co. (ATIC), a provider of taxi and for-hire vehicle insurance, has filed a $450 mn lawsuit, alleging extensive fraud
CLARA Analytics launched of a fraud detection product for insurance claims
CLARA Analytics, a provider of artificial intelligence (AI) technology for insurance claims optimization, has launched of a fraud detection product that leverages
Web3 security startup Blockaid sequred a $33 mn funding
Blockaid, a web3 security startup co-founded by two former Israeli military cyber intelligence personnel, has come out of stealth with $33 million in funding
Verisk launched ClaimSearch system against insurance fraud in Israel
Verisk announced the launch of its new ClaimSearch system in Israel. Developed in collaboration with the Israel Insurance Association
Allianz Trade introduced a new standalone fraud insurance product in the UK
Allianz Trade, the trade credit insurer, has introduced a new standalone fraud insurance product to assist businesses
Former insurance executive indicted for $2bn fraud scheme to deceive state Regulators
A federal grand jury in Charlotte returned an indictment charging a North Carolina man with masterminding and directing a massive scheme to deceive state insurance regulators
Florida’s Homeowners Insurers are Facing Fraud Schemes & Underwriting Losses
An issues brief published by the Insurance Information Institute has affirmed that the turmoil in Florida’s homeowners insurance market is due to fraud schemes
Zurich Insurance has seen a ‘sharp increase’ in fraudulent insurance claims
Zurich Insurance has warned of “a sharp increase” in the number of insurance fraud cases it receives, echoing calls that the cost-of-living crisis
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