Loews posts Q3 profit on higher investment income, insurance premium
(Reuters) – Loews Corp on Monday reported a profit in the third quarter compared to a loss a year earlier, boosted by higher investments and …
Insurance
Master Rigger Indicted for Wage Theft and Forged Insurance Documents
NEW YORK, NY – On Wednesday, the Manhattan District Attorney announced the indictment of George Cole, a licensed Master Rigger, and his company, COLE NYC …
Former U.S. Navy Service Member Sentenced for $2 Million Insurance Fraud Scheme
NEWS RELEASE SUMMARY – October 17, 2023 SAN DIEGO – Christopher Toups, who at the time of his crimes was a chief petty officer in …
Two Nigerian Nationals Based in Maryland Sentenced for Schemes to Steal California and Other States’ Unemployment Insurance Benefits
SACRAMENTO, Calif. — Nigerian nationals Quazeem Owolabi Adeyinka, 22, and Ayodeji Jonathan Sangode, 25, currently both residing in Maryland, were sentenced today to 26 months …
Truist in talks to sell insurance business for $10 billion – Semafor
(Reuters) -Truist Financial is in talks to sell its insurance brokerage unit to private equity firm Stone Point for about $10 billion, news website Semafor …
Philadelphia Man Arrested in Car Insurance Fraud Scheme After Traffic Stop
NEWARK, DE – On September 30, Newark police pulled over a vehicle after witnessing it performing donuts in the parking lot of the 896 Shops …
Two Men Arrested for Alleged Insurance Fraud in Morris County
MORRIS COUNTY, NJ – The Morris County Prosecutor’s Office has announced the arrest of Christopher Angst, 48, of Long Valley, and Michael McFadden, 54, of …
KKR to invest more than $1 billion in USI Insurance to become largest shareholder
(Reuters) – USI Insurance Services said on Monday that existing shareholder KKR plans to make a new equity investment of more than $1 billion to …
Hamilton Insurance Group confidentially files for US IPO
(Reuters) -Hamilton Insurance Group said on Thursday it has confidentially filed for a U.S. initial public offering, at a time when there is growing momentum …
Idalia to boost Florida apartment insurance costs further
By Matt Tracy (Reuters) – Hurricane Idalia is expected to increase insurance costs for Florida commercial real estate (CRE), particularly owners of apartments and other …
‘It Is A Risky Proposition’: Homeowners Are Skipping Out On Insurance As Premiums Skyrocket
‘It Is A Risky Proposition’: Homeowners Are Skipping Out On Insurance As Premiums Skyrocket Will Kessler on August 28, 2023 Some Americans are choosing to …
U.S. insurance broker Marsh to buy Australia’s Honan
(Reuters) – U.S. insurance broker Marsh, a unit of Marsh & McLennan, said on Sunday that it would acquire Australia’s Honan Insurance Group, it said …
Suncorp sees improvement in margins from insurance; annual cash earnings jump
(Reuters) -Australia’s Suncorp Group on Wednesday posted a sharp jump in full-year cash earnings and said it expects an improvement in margins in the medium …
US congressional panel probes FTC regulation of vision care insurance
By Kanishka Singh WASHINGTON (Reuters) – The U.S. House of Representatives Oversight Committee said on Tuesday it has opened a probe into the Federal Trade …
Turkey quake contributed to $43 billion in H1 insurance losses – Munich Re
BERLIN (Reuters) – A deadly earthquake in Turkey and Syria as well as tornadoes and hailstorms in the United States contributed to losses covered by …
Mexico’s Banorte posts profit boost on insurance, trading units
By Carolina Pulice and Kylie Madry MEXICO CITY (Reuters) – Mexico’s Grupo Financiero Banorte reported on Thursday a 14% increase in second-quarter net profit, hitting …
Aviation lessors fight to stop insurance dispute hearings in Russia
LONDON (Reuters) – More than 40 aviation leasing firms, locked in a battle with insurers over who should bear up to $10 billion in costs …
Biden to crack down on short-term health insurance plans -Politico
(Reuters) -U.S. President Joe Biden’s administration on Friday is expected to propose a new regulation cracking down on short-term health insurance plans, Politico reported, citing …
‘Best Impeachment Insurance’: DeSantis Says Biden Picked Harris As VP Because ‘No One Wants Kamala’
‘Best Impeachment Insurance’: DeSantis Says Biden Picked Harris As VP Because ‘No One Wants Kamala’ Harold Hutchison on June 22, 2023 Republican Gov. Ron DeSantis …
Insurance broker Acrisure prepares for 2024 IPO at over $20 billion valuation – source
(Reuters) – Insurance broker Acrisure has begun interviewing banks for an initial public offering next year which could fetch it a valuation of over $20 …
Here’s Why Insurance Titans Are Suddenly Fleeing California
Here’s Why Insurance Titans Are Suddenly Fleeing California Jake Smith on June 13, 2023 California’s insurance regulator has blamed the decision of two insurance titans …
CPA Charged with Defrauding New York State Insurance Fund of $10 Million
NEW YORK, NY – Manhattan District Attorney Alvin Bragg, Jr. announced on Thursday two indictments against Certified Public Accountant Steven Lyon for defrauding the New …
FDIC plans to hit big banks with fees to refill deposit insurance fund – Bloomberg News
(Reuters) -The U.S. Federal Deposit Insurance Corporation is planning to exempt smaller lenders from kicking in extra money to replenish the government’s bedrock deposit insurance …
FDIC report to reopen U.S. bank deposit insurance debate
By Hannah Lang (Reuters) – A key U.S. banking regulator is set to publish a comprehensive overview of the federal deposit insurance system on Monday, …
Lake Success Attorney Arraigned for Allegedly Stealing Client’s Insurance Settlement Funds
MINEOLA, NY – Sean O’Leary, 64, a Lake Success attorney, was arraigned Wednesday before Judge Norman Sammut on one count of Grand Larceny in the …
Despite SVB collapse, FDIC on track to recoup insurance losses: Chair
(Reuters) – Despite the second- and third-largest bank failures in U.S. history last month, the U.S. Federal Deposit Insurance Corporation remains on track to refill …
Falsified Claim Leads to Arrest and Charges for Jersey City Men on Insurance Fraud Charges
HUDSON COUNTY, NJ – On Monday, two Jersey City men, Shelton Sutton, 36, and Kevin London, 36, have been arrested and charged with insurance fraud …
Community banks should not feel deposit insurance pain, White House says
By Douglas Gillison and Pete Schroeder (Reuters) – The White House on Thursday moved to reassure the nation’s community banks that they would not have …
Corporate agitator Ackman tells US to raise FDIC insurance limit to shore up confidence
By Svea Herbst-Bayliss NEW YORK (Reuters) – Billionaire investor William Ackman who spent years telling corporations how to perform better is now taking on the …
Explainer-What is the FDIC’s deposit insurance fund used to backstop failed banks?
By Hannah Lang (Reuters) – The Federal Deposit Insurance Corp (FDIC) and its flagship deposit insurance fund have been active since the Great Depression to …
Janet Yellen Says Government Won’t Offer ‘Blanket Insurance’ Of Bank Deposits
Janet Yellen Says Government Won’t Offer ‘Blanket Insurance’ Of Bank Deposits Jason Cohen on March 22, 2023 Treasury Secretary Janet Yellen told lawmakers Wednesday that …
Explainer-How does bank deposit insurance work, and who does it cover?
By Hannah Lang and Pete Schroeder (Reuters) – In the United States and many other countries, the government guarantees a certain amount of each customer’s …
Zions Bank chief urges no Washington ‘knee jerk’ reaction to deposit insurance
By Douglas Gillison and Pete Schroeder (Reuters) – U.S. policymakers should avoid a “knee jerk” reaction in considering changes to bank deposit insurance guarantees in …
Senate Clears Polistina Bill Expanding Insurance Coverage for Hearing Aids
Health insurers may soon be required to cover hearing aids and cochlear implants for individuals under 21 years of age thanks to legislation sponsored by Sen. Vince Polistina and approved today by the New Jersey Senate.
Jersey City Man Arrested for Insurance Fraud
JERSEY CITY, NEW JERSEY – Hudson County Prosecutor Esther Suarez announced the arrest of 41-year-old Issa Almaet for insurance fraud on Thursday. The Hudson County …
Committee Approves Polistina Bill Expanding Insurance Coverage for Hearing Aids & Cochlear Implants
Health insurers may soon be required to cover hearing aids and cochlear implants for individuals under 21 years of age thanks to legislation sponsored by Sen. Vince Polistina and approved today by the Senate Budget and Appropriations Committee.
Bramnick Calls for Consumer Insurance Advocate in Trenton to Fight for Patients
Sen. Jon Bramnick said new legislation would ensure that patients and other insurance customers have someone fighting for them in Trenton.
‘My Insurance Thinks I’m Lying’: Rampant Theft Is Bringing Business Owners To Their Knees In One Liberal City
‘My Insurance Thinks I’m Lying’: Rampant Theft Is Bringing Business Owners To Their Knees In One Liberal City Trevor Schakohl on February 24, 2023 Small …
Owner Of Insurance Firm Pleads Guilty In $40 Million Scheme To Steal Client Healthcare Funds And Defraud Lenders
Damian Williams, the United States Attorney for the Southern District of New York, announced today that ANTHONY RICCARDI, an owner and manager of the Connecticut …
Newark doctor admits to insurance fraud, money laundering, making false statements to FBI
NEWARK, NJ – A Newark doctor has admitted to federal authorities that he lied to the FBI about his role in a an insurance fraud …
U.S. travel insurance to take off as year-end cancellations spook flyers
By Priyamvada C (Reuters) – Demand for travel insurance in the United States is set to jump this year, as more Americans turn cautious after …
What to do when your term life insurance is ending
By Chris Taylor NEW YORK (Reuters) – Joe Natiello is facing what you might call a “nice problem to have.” Almost 20 years ago, the …
U.S. signs up over 16 million people for Obamacare health insurance
By Ahmed Aboulenein WASHINGTON (Reuters) – More than 16 million Americans signed up for Obamacare health insurance for 2023, a jump of more than 12% …
Former insurance agent pleads guilty to defrauding customers by creating life insurance policies in their names without victims’ knowledge
CINCINNATI – A former insurance agent pleaded guilty in U.S. District Court to defrauding dozens of victims in the Cincinnati and Dayton area. Specifically, …
Windsor Mill Couple Facing Federal Charges for Allegedly Obtaining and Attempting to Obtain Multiple Fraudulent COVID-19 Cares Act Loans and Fraudulent Unemployment Insurance Benefits
Baltimore, Maryland – A federal criminal complaint has been filed charging Tomeka Glenn, age 46, and Kevin Davis, age 42, both of Windsor Mill, Maryland, …
For more than a million in New Jersey, new year means higher auto insurance premiums
Over one million registered New Jersey drivers will see their insurance rates go up this month after a state law that increases the minimum liability …
Yuma Contractor Convicted of Insurance Fraud
PHOENIX, Ariz. – On Tuesday, Isrrael Millan, III, 40, of Yuma, Arizona, was found guilty by a federal jury on one count of Conspiracy to …
New York Attorney And Doctor Convicted Of Defrauding New York City-Area Businesses And Their Insurance Companies Of More Than $31 Million Through Massive Trip-And-Fall Fraud Scheme
Damian Williams, the United States Attorney for the Southern District of New York, announced the convictions today in Manhattan federal court of GEORGE CONSTANTINE, a …
Fouad K. Zeton Charged with Wire Fraud Conspiracy for Role in Insurance Fraud and Bribery Scheme
NEW ORLEANS – The United States Attorney’s Office announced that FOUAD K. ZETON was indicted on December 8, 2022 for conspiracy to commit wire fraud. …
Turkey says to continue blocking oil tankers without proper insurance
ANKARA (Reuters) – Turkey’s maritime authority said on Thursday it would continue to block the passage of oil tankers without appropriate insurance letters, adding that …