Live Insurance News

Insurance news investigation includes accusations of kickback scheme

April 9, 2013April 8, 2013 H. Cutner

These allegations are appearing in the mortgage coverage sector and are being investigated by federal regulators. The latest insurance news has revealed that federal regulators have started a massive investigation into allegations of a mortgage coverage kickback scheme that has driven costs for homeowners skywards for nearly two decades. The first action in the investigation has been conducted around a bank and lender kickback scheme. The Consumer Financial Protection Bureau announced the first insurance news that showed that the investigation is focused specifically at a scheme where lenders and banks…

Insurance fraud accusation issued against Timbaland

April 2, 2013April 1, 2013 Julie Campbell

A missing watch insurance claim is leading the insurer of the musician to call it an attempted scam. Timbaland’s insurer is currently working to shut down a claim that the rapper and record producer has made regarding a missing watch, stating that the filing is nothing more than a case of insurance fraud. The musician is seeking a payout for a watch which was covered under his policy with the insurer. However, that insurer said that the payout of $1.8 million that is being sought is being labeled as insurance…

Insurance fraud study shows nearly a quarter of Americans approve of it

March 23, 2013March 21, 2013 Julie Campbell

The research showed that 24 percent of people in the United States think that the behavior is acceptable. The number of Americans who believe that insurance fraud is an acceptable behavior remains very high, as nearly a quarter of the people in the country feel that it is acceptable, according to a study. This same research indicated that the approval of the behavior has actually fallen over the years. Though the findings of the survey showed that 24 percent of Americans are alright with insurance fraud, this is actually a…

Insurance news from the ORNGE scandal in Canada deepens

March 9, 2013March 7, 2013 Julie Campbell

insurance news from the provincial government in Ontario, Canada, ORNGE, a company that is already wracked with scandal in terms of its taxpayer money spend

It has now been revealed that the company spent taxpayer funds on a $10 million life policy for the CEO. According to the latest insurance news from the provincial government in Ontario, Canada, ORNGE, a company that is already wracked with scandal in terms of its taxpayer money spending, used public funds to purchase a $10 million life policy for Dr. Chris Mazza, the former CEO of the company. That coverage is estimated to have cost taxpayers $450,000 according to the Tory report. The insurance news deepened when it was…

Nebraska insurance firm files lawsuit against Lance Armstrong

March 4, 2013March 2, 2013 Julie Campbell

Nebraska insurance company sues Lance Armstrong

The insurer has now sued the cyclist for collecting performance bonuses worth $3 million by cheating. Lance Armstrong isn’t finished seeing the backlash from the discovery that he cheated during his major cycling competitions – such as the Tour de France – as a Nebraska insurance company has now filed a lawsuit against him for wrongful collection of payments. The company alleges that he cheated in order to take in a $3 million performance bonus. This performance bonus was offered by the Nebraska insurance company when Armstrong’s team purchased a…