On the Record
A Costa Rican insurance company pleaded guilty April 20 in federal court in Richmond, Va., to a $670 million insurance fraud scheme, while its majority owner’s trial began this week.
An insurance agent for Larsen Global Marine in New Jersey was indicted for allegedly failing to remit insurance premiums she collected.
Ill. insurance agent who lost license charged in alleged fraud scheme
A former insurance broker of Belleville, Ill., accused of pocketing at least two women’s premiums may have stolen from other victims, authorities say.
Ohio insurance agent owes $111,639 to IRS for failing to pay taxes
A Mansfield, Ohio, insurance agent pleaded guilty to willfully failing to file an income tax return with the IRS for 10 years, the agency and the U.S. Justice Department reported.
A financial professional from Portsmouth, Va., was recently fined $5,000 and suspended from FINRA for six month after borrowing money from a customer, according to FINRA records.
A former executive for Blue Cross Blue Shield of Montana sued the company after claiming she was fired for reporting alleged illegal rebate activity potentially leading to discriminatory pricing of premiums.
A former Culver City, Calif., insurance agent was sentenced for collecting more than $62,000 after submitting 377 fraudulent insurance applications to a life insurer.
A Tampa, Fla.-based managed care services provider will pay $137.5 million to the federal government and nine states to settle four lawsuits accusing the company of violating the federal False Claims Act.
Owners of a New York sewer plant have sued the insurance company in federal court for more than $3.5 million over its denial of coverage for a wall collapse last year.
Highmark officials intend to perform a “complete investigation” of spending in the wake of the firing of CEO Kenneth Melani, whose criminal charges in connection with a domestic dispute with his girlfriend’s husband may be dropped.

Federal health exchange officials too busy to worry about Supreme Court
Federal health reform would add 100,000 jobs, $4.4 billion to Calif.
Lautenberg, Rubio want to cap TRICARE fees for military retirees

Combination life insurance product sales rise at ‘remarkable rate’
Pa. men charged in multi-state, ‘elaborate financial fraud scheme’
Small business worries about its role in retirement planning

Senate passes ‘Band-Aid’ bill to extend NFIP 60 days; House must act
Allstate seeking agency owners for Md., Va., D.C., Pa, Del., W.Va.
Wharton School establishes new risk and insurance program


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