premiums News

Equine Insurance Agency Owner Sentenced for $1.3M Fraud

The owner of a Rhode Island insurance agency that specialized in insuring horses was sentenced Monday to 36 months in federal prison for operating various schemes to defraud customers, insurance companies, and finance companies of approximately $1.3 million, the U.S. …

North Dakota Town Sees Rising Flood Insurance Costs

Had Greg Larson, a Realtor and riverside homeowner in Bismarck, and his family changed their flood insurance policy, their cost would have gone from $705 a year to $4,200. Increases in flood insurance rates are making some of Bismarck-Mandan’s prized …

Ohio Business Lacked Workers’ Comp Coverage, Owes Over $200,000

Ralph Gearhart, owner of Ohio State Roofing, Inc., who operated his business for more than a decade without proper workers’ compensation insurance was sentenced recently. According to authorities, he was found guilty of failing to comply with the law, having …

Calif. Wood Chipper Death Spawns Insurance Fraud Case

The owner of an Orange County tree-trimming business faces fraud charges after filing a 2007 insurance claim for the family of an employee who died in a wood chipper. Prosecutors say he never paid premiums on the insurance. Jose Luis …

Florida Consumer Advocate Focusing on Auto Insurance

Florida’s insurance consumer advocate is forming a working group to focus on skyrocketing premiums for automobile coverage. Robin Westcott on Thursday said one of the biggest reasons for those increases has been personal injury protection fraud. State law requires motorists …

What the New Car Insurance Rules Mean for New Jersey

New Jersey proposed a sweeping overhaul last week to its regulations for the personal injury protection component of auto insurance, hoping to curb rising premiums. The changes affect how and what doctors can bill for treatments and restructure the process …

West Virginia Offering Help to Firefighters on Premiums

Volunteer fire departments looking to offset anticipated increases in their workers’ compensation insurance premiums can turn to a website launched by the state auditor’s office. Auditor Glen Gainer’s office was tasked by the Legislature with developing a program to provide …

Former Georgia Insurance Agent Sentenced for Pocketing Premiums

A Macon insurance agent who took premiums from a nonprofit pleaded guilty in Bibb County Superior Court to one count of insurance fraud. Broadus W. Marshall Jr. was sentenced on Monday to 10 years of probation, 500 hours of community …

Florida Insurance Company Owners Guilty of Diverting Funds

A Miami-Dade Circuit Court entered a $76 million judgment against Aries Insurance Company former owners, Marcos Fraynd and his children Paul Fraynd, Saul Fraynd and Fanny Fraynd, who were found guilty of diverting funds for personal use. Aries, a personal …