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Texas Regulator Reports Recovering $58M in 2024 Restitutions

Insurance Journal

The Texas Department of Insurance’s Fraud Unit contributed to investigations landing nearly $58 million in court-ordered restitution last year. According to TDI, more than 20 TDI investigators stationed around the state looked into over 350 insurance fraud allegations with a …

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Washington Senate Passes Restitution, Credit Scoring Study Bills

Insurance Journal

The Washington state Senate passed three bills with insurance implications on Monday, including a bill giving the insurance commissioner the authority to order restitution to harmed policyholders and a bill studying the impacts of insurance rating factors like credit scores.

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Ohio Man Sentenced in $229K Insurance Fraud Scheme

Insurance Journal

An Ohio man was sentenced to five years in prison and ordered to pay restitution for filing 24 fraudulent claims with multiple insurance companies, totaling more than $229,000, the Ohio Department of Insurance announced. Justin Mack, a native of Buffalo, …

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Miami Insurance Broker Sentenced to 3.5 Years in Condo Premium Finance Scheme

Insurance Journal

A federal judge on Wednesday sentenced a Miami insurance broker to 41 months in prison and more than $5 million in restitution for defrauding a Georgia credit union by obtaining loans for condominium associations’ premium financing, then using the loans …

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Washington Bill Would Provide Restitution for Policyholders Harmed by Insurers

Insurance Journal

A bill to allow the Washington’s insurance commissioner to order restitution for policyholders harmed by insurance companies moved out of the state Senate Business, Financial Services, and Trade Committee. Senate Bill 5331 gives the commissioner authority to require insurers to …

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Washington Bill Would Provide Restitution for Policyholders Harmed by Insurers

Insurance Journal

A bill to allow the Washingtonis insurance commissioner to order restitution for policyholders harmed by insurance companies moved out of the state Senate Business, Financial Services, and Trade Committee. Senate Bill 5331 gives the commissioner authority to require insurers to …

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Florida Contractor in Fatal Fall Incident Sentenced for Workers’ Comp Fraud

Insurance Journal

A Florida framing contractor has been sentenced to 48 months in prison and millions of dollars in fines and restitution after he failed to obtain workers’ compensation insurance and ignored safety practices, leading to deadly consequences. Despite six previous citations …