The U.S. attorney’s office described the case and the allegations against Jim Beck. Earlier this week, the United States attorney’s office laid out what it called a $2 million fraud case which involves Georgia Insurance Commissioner Jim Beck. The commissioner’s attorney entered into negotiations regarding when and how Beck would turn himself in. The Georgia insurance commissioner is the target of a 38 count indictment. It accuses Beck of widespread fraud regarding work he did for the Georgia Underwriting Association (G.U.A.). The alleged fraudulent activities all occurred before Beck was…
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Insurance companies must reconsider the handling of tornado policies
The tornado season is already off to a destructive and deadly start this year, leading insurance companies are taking another look at the way that they handle and underwrite for the areas in the United States that have the highest risk of these devastating and recurring events. What this may mean, is that homeowners could discover that they are paying rates that are significantly higher than they have in the past, or that they may not be able to find any coverage at all, as insurance companies work to reduce their…
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