Catastrophic

19 April 2012

Michigan Lottery Winner Charged for Collecting Public Health Insurance and Food Stamps

Written by Rebecca Kelley, Posted in Catastrophic

Michigan Lottery Winner Charged for Collecting Public Health Insurance and Food Stamps

A Michigan woman who won $1 million from the lottery was charged with fraud this week after she was caught collecting food stamps and public health insurance. The winner, Amanda Clayton, had taken home $735,000 after taxes but failed to notify the state that her income had changed drastically.

19 April 2012

Allstate Estimates March Catastrophe Losses at $190 Million, Q1 Losses at $260 Million

Insurance Step Staff Report, Posted in News, Catastrophic

Allstate Estimates March Catastrophe Losses at $190 Million, Q1 Losses at $260 Million

Earlier today Allstate announced their estimated catastrophe losses for the month of March. The company estimated the totals to be approximately $190 million, pre-tax, putting the company's first quarter catastrophe losses at $260 million.

18 April 2012

Insurance Agent Arrested Because He Won't Stop Selling Insurance

Written by Rebecca Kelley, Posted in Catastrophic

Insurance Agent Arrested Because He Won't Stop Selling Insurance

An insurance agent in Lincoln, Nebraska was arrested and spent the weekend in jail because he won't stop selling insurance. It sounds kind of weird when you consider that selling insurance is the guy's job, but, as is usually the case with these oddball stories, the devil is in the details. 

16 April 2012

U.K. Insurance Company Determines ‘Executive Cars’ More Likely Targets for Vandalism

Written by Jason Arango, Posted in Catastrophic

U.K. Insurance Company Determines ‘Executive Cars’ More Likely Targets for Vandalism

In a report that should surprise no one, the U.K. Insurance Company Swiftcover revealed that luxury brand cars are more likely to be vandalized than their less showy counterparts. Using claims data from 2011 and 2012, Swiftcover determined the brands most likely to be the subject of vandalism were Porsches (3.46 percent), Saabs (1.68 per cent), Land Rovers (1.65 per cent), and BMWs (1.63 per cent). However, the company also determined that everyday drivers are hardly immune, with the more affordably priced Fiat 500 actually ranking as the most likely target for vandals.

13 April 2012

Make Sure Your Insurance Info is Close at Hand: Friday the 13th Could Be Bad for Your Health

Written by Rebecca Kelley, Posted in Catastrophic

Make Sure Your Insurance Info is Close at Hand: Friday the 13th Could Be Bad for Your Health

Today is Friday the 13th, a date considered to be unlucky among the more superstitious and horror movie-loving folks. But is the day really bad or are we just largely overreacting? The Telegraph cites a medical study that suggests Friday the 13th does see a dramatic spike in accidents. Better have that insurance info nearby just in case...at least until midnight, anyway.

13 April 2012

Insurance Claim of the Week: The Arsonist’s Wife

Written by Jason Arango, Posted in Catastrophic

Insurance Claim of the Week: The Arsonist’s Wife

In a story so dysfunctional it seems unreal, an insurance settlement from almost 10 years ago is in the news because the man who was supposed to receive the money had it hidden from him by his wife.

11 April 2012

‘Injured’ Firefighter Faces Insurance Fraud Charges for MMA Fights While Collecting Workers’ Comp

Insurance Step Staff Report, Posted in Catastrophic

‘Injured’ Firefighter Faces Insurance Fraud Charges for MMA Fights While Collecting Workers’ Comp

When you’re too injured to work it would stand to reason you’re probably not ready to jump in a ring and square off in hand to hand combat. However, for one injured LA firefighter, the period between Dec. 2nd, 2008 and May 20th, 2011 is now the subject of contention following the discovery that he may have been participating in MMA fights while collecting workers’ comp.

10 April 2012

Alfa Insurance Offering $10K Reward in an Attempt to Stop Metal Theft in Alabama

Posted in Catastrophic

Alfa Insurance Offering $10K Reward in an Attempt to Stop Metal Theft in Alabama

Apparently theft of metal farm equipment is a serious problem in Alabama. In fact, it’s a big enough problem that Alfa Insurance is offering a $10,000 reward for, “information leading to the conviction of those responsible for stealing copper and other metals from poultry houses, farm irrigation systems and other Alfa-insured property.”

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