Live Insurance News

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,…

US House votes to extend terrorism insurance law

December 15, 2014December 13, 2014 S.Vagus

Insurers may benefit from extension of terrorism insurance initiative The U.S. House of Representatives has voted to extend the Terrorism Risk Insurance Act by another six years. The law went into effect in 2002 and has established a federal backstop that provides financial assistance for insurers offering coverage against acts of terrorism. The law has played a major role in ensuring that various industrial and commercial projects have the coverage they need to take form. Over the past year, the law has been the subject of legislative debate, with some…

Insurance company in North Dakota fined $60,000 for several violations

December 8, 2014December 6, 2014 G. Turner

Blue Cross Blue Shield must pay the penalty for claims handling issues and other payments failures. Blue Cross Blue Shield of North Dakota recently agreed to pay a number of different fines that will come to a total of about $60,000, for having made several “systemic” violations that were discovered by regulators during an examination of the insurance company. The violations have occurred in a range of different areas including the handling of claims. Among the violations that were found within the examination of the insurance company were the claims…

Insurance companies sued by Minnesota Archdiocese

December 1, 2014November 29, 2014 Julie Campbell

St Mary's Catholic Church Minnesota insurance claims companies

Twenty insurers are have had lawsuits filed against them over issues regarding sex abuse claims. In Minnesota, the Archdiocese of St. Paul and Minneapolis has now announced that it has filed lawsuits against 20 insurance companies in an effort to attempt to force those insurers to have to pay for the liabilities on claims involving sex abuse by the clergy. The lawsuit has now been filed in federal court, saying that the archdiocese should have been covered for decades. The complaint stated that the insurance companies had been providing liability…

Insurance company goes under and leaves Pennsylvania taxi business uninsured

November 4, 2014November 1, 2014 H. Cutner

Some cabs in Harrisburg have now had their service suspended when they suddenly lost coverage. Pennsylvania commuters and tourists might find it just a little bit harder to get a cab, over the next while, as the operations of sixty six taxi and limo services were suspended by the Pennsylvania Public Utility Commission (PUC) when their insurance company could no longer provide coverage. It turns out that their insurance provider is now destined to be liquidated and is no longer capable of paying future claims. The commission’s press secretary, Jennifer…

Pet insurance in California now involves new disclosure rules

October 9, 2014October 7, 2014 H. Cutner

A new law within the state obliges insurers to explain their policy coverage very clearly to animal owners. California has now become the first state in the country to create regulations with regards to disclosure within the pet insurance industry, which is primarily unregulated up until this point. The bill was recently signed into law to ensure that consumers will know the coverage that they are buying. Governor Jerry Brown recently signed bill AB2056, making it into a law that states that pet insurance companies must provide animal owners with…