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Connecticut Bookmaker Gets Prison Time in Insurance Fraud Scheme
A bookmaker who pleaded guilty to charges he shot a gambler with a stun gun and tried to burn down a Middletown restaurant in an insurance fraud scheme is headed to prison.
The Hartford Courant reports 52-year-old John Barile of East Hartford was sentenced Tuesday to 71 months in federal prison. He pleaded guilty in February to charges of arson, insurance fraud, gambling and extortion. Continue reading
June was supposed to have been a triumphant month for Walt Disney Co. theme parks, with the flashy opening of a long-planned resort in Shanghai and a new Florida attraction based on its wildly popular animated movie “Frozen.”
Instead, the company is facing a public relations crisis and the possibility of legal action after an alligator snatched and killed a toddler at the Walt Disney World resort in Orlando, Florida, legal and communications experts said Continue reading
A left-turn at the light with oncoming traffic; the collision occurs and now you are headed to intercompany arbitration on the subrogation claim as the parties dispute who was at fault.
An all too familiar scenario for those adjusting auto losses, but an increasingly relevant fact pattern in the world of subrogation recovery. While 85-90% of all subrogation claims are resolved between carriers and self-insureds without a problem, it is the other 10-15% that can make the difference to the bottom line for insurance organizations.
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Managing your company’s fidelity or employee dishonesty claim is a challenge. The process can be part insurance claim, part investigation and part financial audit. Most claims also involve human resources (HR) and legal considerations surrounding employee rights and termination, and they may necessitate referral to law enforcement or legal proceedings for civil recovery. For even the most experienced risk management teams, proper and timely claim submission requires careful deliberation and technical know-how. Continue reading
The world is a dangerous, unpredictable place — not a bad thing, perhaps, if you’re in the business of selling insurance, making loans or figuring out ways to prevent mishaps. Continue reading
Wage insurance may not be on your radar, but it should be. It helps people who have lost their jobs and cannot find new ones that pay as well. That assistance can reduce economic inequality while providing incentives for unemployed people to go back to work quickly. Continue reading
The fresh air of spring has arrived and the weather has been so nice. I have been busy cleaning out my garage and starting to spring clean my home. I just called my cleaning service to set up a deep clean of my house and it got me thinking about how important it is to have a cleaning company that is licensed and insured. Continue reading
The property/casualty industry is undergoing significant challenges with increased claim severity in liability and physical damage claims. These increases are outpacing inflation and rate adequacy. According to the Insurance Information Institute, in 2009 the average private passenger auto bodily injury claim was $13,891. In 2014, that average grew to $16,640 – an increase of almost 20 percent. The private passenger auto collision loss ratio has risen from 67.7 percent in 2010 to 78.3 percent in 2015 – a 16 percent increase. The loss ratio can be adversely impacted by claim handling, underwriting and rate inadequacy with claim leakage as a primary cause of loss ratio deterioration. Continue reading
