Live Insurance News

Life insurance payout behind woman’s intention to kill her husband

November 21, 2013November 19, 2013 Julie Campbell

A mother of two in England hired a hit man to murder her husband so that she could claim on his policy. In East Yorkshire, England, a 36 year old woman named Lisa Fairpo has been accused of hiring a man to kill her husband so that she would be able to collect on his massive life insurance policy. The intention was to murder her husband so that she would be able to use the payout to avoid bankruptcy. The case is now before the court and has revealed that…

Insurance fraud costs South Africa’s industry $390 million

November 12, 2013November 9, 2013 G. Turner

Every year, insurers are paying for this trend and that cost is being passed down to the consumer. South Africa’s short term coverage industry is paying an estimated $389.6 million every year (4 billion South African rand) in order to compensate for the insurance fraud that it is experiencing in that country. There have been a growing number of cases of fraudulent claims over the last few years. According to Santam Ltd., a Cape Town based short term insurer, this year, alone, there have already been 79 cases of commercial…

Insurance news focus is back on Tom Hanks as his broker receives 27 months

November 7, 2013November 5, 2013 Julie Campbell

Insurance news Tom Hanks and Rita Wilson

After having scammed the Oscar winning actor and others, Jerry Goldman has now been sentenced. The insurance news spotlight is on Southern California, at the moment, as a broker from that region who scammed Tom Hanks and his wife, Rita Wilson, by hundreds of thousands of dollars is now facing a jail sentence of 27 months within a federal prison. This sentence was first issued to Goldman on Monday, when he found that he will be in jail for more than two years. Beyond the 27 month jail sentence making…

Insurance fraud is a costly problem

October 26, 2013October 25, 2013 S.Vagus

Insurance fraud makes coverage a complex matter Insurance can be a very tricky subject to navigate. Every sector of the insurance industry is awash with regulations, standards, and complex business practices that can make understanding coverage a chore at best. The complexities of insurance can cause a great deal of confusion, even among those that should not be confused. In the U.S., state and federal lawmakers often pass legislation in an attempt to mitigate the dangers that exist within the insurance sector. Much of this legislation institutes regulations that govern…

Insurance news made in case of shooting, faked death, and fraud

October 21, 2013October 19, 2013 Julie Campbell

A Florida suspect of attempted murder who is now living in Canada has been declared legally dead. Alex Varga has found himself at the heart extremely curious insurance news headlines in a Florida case in which he was the suspect in a shooting, but where he fled the country until finally making his way to Canada, where he has discovered that his wife – still in Florida – had declared him dead in order to collect on his life policy. Varga will now likely never be tried for the shooting…