Live Insurance News

Insurance fraud exposure generate a daily savings of $5.58 million

July 15, 2015July 14, 2015 Julie Campbell

A new ABI study has shown that the efforts to stop fraudsters are saving consumers in the U.K. The Association of British Insurers (ABI) has now released its data about the impact of exposing insurance fraud in the United Kingdom, and the results are showing that it is saving consumers a massive amount of money. The report showed that a daily $5.588 million (£3.6 million) is saved because of exposing insurance cheats. According to the report, the daily amount is saved by consumers in the U.K. “saved by exposing insurance…

Insurance fraud investigation begins at Uber

June 18, 2015June 22, 2015 Julie Campbell

The rideshare company is now being investigated after it failed to detect falsified driver documentation. Transportation for London (TFL) has now launched an insurance fraud investigation into Uber, the app based ride share company, after a person successfully used falsified proof of coverage documents in order to become a driver. A whistle blower determined that it was possible to Photoshop insurance cards and pass Uber’s screening. The whistle blower remains unnamed but was already a driver for Uber. The insurance fraud test occurred when that person uploaded fake documents from…

Insurance company to be paid $10 million by Lance Armstrong

March 6, 2015March 4, 2015 Julie Campbell

A recent ruling has now been made against the Tour de France cyclist after the insurer sued for fraud. A panel decision has now been made to order Lance Armstrong to pay his insurance company $10 million after that insurer sued him for fraud in 2013 following his highly publicized case of Fraud in 2012. The decision from the Texas arbitration panel was a vote of 2 to 1 with regards to the Tour de France winning bonuses. According to Bob Hamman, the president and founder of the sports insurance…

Felony insurance fraud charges laid against former MLB’s Ted Lilly

January 26, 2015January 24, 2015 Julie Campbell

The former Major League Baseball pitcher is now facing three counts of the charge in the state of California. In California, Ted Lilly, the former Major League Baseball pitcher is now facing felony charges with three counts of insurance fraud against him for the filings that he allegedly made following an accident. Recent reports have stated that Lilly has entered a not guilty plea against the charges against him. The insurance fraud charges against Ted Lilly came from a claim that he filed after having been involved in an accident…

New Jersey Turnpike scam makes insurance news when adjuster sentenced

January 12, 2015January 10, 2015 G. Turner

The scandal was worth an estimated $900,000 and the man from Little Falls will go to prison for almost 3 years. An adjuster from Little Falls is making insurance news after having been sentenced to almost three years in jail for having schemed with a New Jersey Turnpike manager to trick insurers and the authority out of an estimated total of approximately $900,000. Back in September, Roberto Napolitano gave a guilty plea for a charge of fraud, and he has now been sentenced. The adjuster in this insurance news case,…