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State Farm: Catalytic Converter Thefts Drop 74%

Insurance Journal

For the second year in a row, State Farm auto claims data has revealed a significant drop in catalytic converter theft claims. There was a 74 % drop for the first half of 2024 compared to the same period in …

Theft 277
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Employee Dishonesty Claims—How Far Back Does Coverage Extend?

Property Insurance Coverage Law

However, one of the most damaging and often overlooked threats comes from within: employee theft. When businesses think about protecting themselves from risk, they often focus on property damage, natural disasters, or customer lawsuits.

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Washington Man Pleads Guilty to Insurance Fraud for Carpet-Cleaning Claim

Insurance Journal

A carpet-cleaning claim and a fake theft of a Hyundai has led to guilty pleas for two people for insurance fraud in Washington. Seattle resident Jason Weisfeld of Federal Way, Washington, and Fedaa Shakir, both pleaded guilty to submitting false …

Claim 205
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Leader of Crew That Stole 500 Catalytic Converters Worth $2 Million Sentenced

Insurance Journal

The leader of a regional organized theft crew, who orchestrated the thefts of catalytic converters from nearly 500 vehicles across the region, multiple jewelry store robberies and the stealing of banks’ automated teller machines has been sentenced in federal court …

Theft 264
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Court Differentiates Vandalism from Theft in First Party Insurance Policy

The Property Insurance Law Observer

The Court considered whether the Plaintiffs’ loss was caused by theft or vandalism, as neither term was defined in the policy. The loss was reported to Allstate on November 24, 2021, and the Plaintiffs filed a claim seeking coverage for the damage to their dwelling and structures in the amount of $200,000. Allstate Vehicle & Prop.

Theft 130
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Four Charged In $10 Million No-Fault Insurance Fraud Scheme

Insurance Journal

Four men have been charged with defrauding New York auto insurers by allegedly submitting more than $10 million in fraudulent claims for psychological services —and then laundering the proceeds of that fraud through a network of illicit check cashers. Damian …

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Renovations and Home Insurance: What You Need to Know

Boyle Agency Insurance

Failing to do so could leave your home underinsured in the event of a claim. It provides coverage for property damage and theft of building materials during the renovation process. A safe renovation environment can help prevent liability claims on your insurance. This coverage safeguards your investment from unexpected setbacks.