Theft - Insurance Industry Brief

Homeowners Insurance Does Not Cover Cryptocurrency Theft, 4th Circuit Affirms

Insurance Journal

OCTOBER 28, 2024

A federal appeals court has affirmed that a homeowners insurance policy does not cover the theft of cryptocurrency because the loss of a digital currency does not involve a “direct physical loss” as required by the policy. The Fourth Circuit …

Theft

Theft Insurance Policy Policy Insurance

State Farm: Catalytic Converter Thefts Drop 74%

Insurance Journal

SEPTEMBER 11, 2024

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

Theft Claim

Hyundai, Kia’s Anti-Theft Measures Fuel Steep Dip in US Vehicle Thefts

Insurance Journal

MARCH 20, 2025

Vehicle thefts in the United States recorded their biggest yearly drop in four decades as automakers, mainly Hyundai and Kia, bolstered anti-theft measures, while easing supply chain constraints made stealing vehicles for parts less lucrative. Hyundai and Kia cars topped …

Theft

Theft Auto Insurance Insurance Insured

An Increase in Identity Theft, Cybercrime Predicted in 2025

Insurance Journal

JANUARY 15, 2025

The forecast for identity theft scams and cybercrime in 2025 is bleak, according to the Identity Theft Resource Center (ITRC). It’s anticipated there will be reduced support for victims and less law enforcement focus, likely leading to a rise in …

Theft

Theft Cyber

Cargo Theft Surges as Holiday Season Approaches, Verisk Says

Insurance Journal

DECEMBER 22, 2024

A CargoNet analysis of holiday-period theft data from the past five years shows a heightened risk during the Christmas and New Year periods. Be on the lookout for Grinch-like characters hanging out at transportation hubs over the holidays. The days …

Theft

Theft Risk Inland Marine Marine

California Labor Commissioner Gets $1.7M Settlement in Wingstop Wage Theft Case

Insurance Journal

SEPTEMBER 18, 2024

million wage theft settlement for 550 workers in an alleged scheme in which the owner of multiple Wingstop locations in Bakersfield created separate corporate entities to circumvent labor laws. The California Labor Commissioner’s Office reached a $1.7 The franchisee must …

Theft

Hyundai, Kia Software Upgrades Cut Theft Rates By More Than Half, HLDI Finds

Insurance Journal

AUGUST 9, 2024

Anti-theft software upgrades provided for Hyundai and Kia vehicles regularly targeted by thieves has cut theft rates by more than half, according to new research from the Highway Loss Data Institute. Theft rates of the affected automobiles soared after thieves …

Theft

Scrap Metal Dealer Pleads Guilty in Multistate Catalytic Converter Theft Conspiracy

Insurance Journal

AUGUST 22, 2024

A scrap metal dealer with a Virginia shop pled guilty this week to theft and tax charges related to his participation in a multi-state catalytic converter theft conspiracy. According to court documents, Theodore Nicholas Papouloglou, 45, used his business, DG …

Theft

Cargo Theft Surges to Record Levels in 2024

Insurance Journal

JANUARY 23, 2025

2024 saw record-breaking cargo theft activity across the United States and Canada, with 3,625 reported incidents representing a 27% increase from 2023, according to global data analytics and technology provider CargoNet, a Verisk company. The estimated average value per theft …

Theft

Theft Inland Marine Marine

Homeowners Insurance Does Not Cover Cryptocurrency Theft, 4th Circuit Affirms

Insurance Journal

NOVEMBER 17, 2024

By Andrew Simpson A federal appeals court has affirmed that a homeowners insurance policy does not cover the theft of cryptocurrency because the loss of a digital currency does not involve a “direct physical loss” as required by the policy.

Theft

Theft Insurance Policy Policy Insurance

Former State Employee Pleads Guilty to Insurance Fraud and Felony Theft

Insurance Journal

DECEMBER 5, 2024

A former state employee in Maryland has pleaded guilty in separate cases involving insurance fraud and felony theft. According to Maryland Attorney General Anthony G. Brown, the charges against Shanell Angelia West, of Essex, Maryland, stemmed from her actions during …

Theft

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What is Strategic Cargo Theft? – What’s Brewing Podcast (Episode 6)

Insurance Journal

DECEMBER 10, 2024

In this episode, Peter Matthews, SVP of Commercial Truck, and Jared Fritts, Loss Control Specialist, tackle the issue of Strategic Cargo Theft what it is, how it … This post is part of a series sponsored by IAT Insurance Group.

Theft

Theft Commercial Insurance Insurer

Former Corrections Officer Going to Jail for Insurance Theft

Insurance Journal

MARCH 18, 2025

A former state correctional officer from Baltimore has been sentenced in the Circuit Court for Baltimore County for felony theft of $25,000 to $100,000 and ordered to pay $50,251.66 in restitution, announced Attorney General Anthony G. Prosecutors showed that …

Theft

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ECM Theft Is Skyrocketing—Here’s How to Stay Ahead

Insurance Journal

FEBRUARY 25, 2025

While cameras recorded the theft, nobody … This post is part of a series sponsored by IAT Insurance Group. Late at night in the Fall of last year, thieves stole 13 ECM units from a fleet of commercial trucks in Chicago.

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Theft Commercial Insurance Insurer

Fourth Gang Member Sentenced for Thefts of Warhol, Pollock Art and Yogi Berra Rings

Insurance Journal

MARCH 18, 2025

A Pennsylvania man who was part of a group that stole paintings by Andy Warhol and Jackson Pollock among other valuables was sentenced to eight years in federal prison after pleading guilty to theft of major artwork. Thomas Trotta, 49, …

Theft

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Theft and Violence in UK Retail Soar to Record Levels, Survey Shows

Insurance Journal

JANUARY 30, 2025

Theft and violence against retail workers in Britain soared to record levels last year and are “out of control,” driven partly by criminal gangs, according to a report published on Thursday. Industry body the British Retail Consortium’s annual crime survey …

Theft

Theft Crime

Former Ohio Insurance Agent Sentenced to Probation for $1.4M Theft

Insurance Journal

FEBRUARY 19, 2025

A former Ohio insurance agent was sentenced this month to five years of probation for thefts exceeding $1.4 Rhonda Chandler, of the Columbus area, stole and misappropriated funds, including premiums for pre-need life insurance policies, commonly known as burial …

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Washington, Nevada and Oregon Saw Biggest U.S. Vehicle Theft Drops in 2024

Insurance Journal

MARCH 26, 2025

Washington, Nevada and Oregon had the biggest percentage drops in vehicle thefts in the U.S. in 2024, according to a new report that shows vehicle thefts nationally fell by 17% in 2024 from a year earlier, marking the largest annual …

Theft

Theft Crime Insurance Insured

Virginia County Police Report Some Success Against High-End Theft Rings

Insurance Journal

AUGUST 21, 2024

It took seven people, 15 seconds and a fire extinguisher. With that, a seven-person crew from Pennsylvania made off with more than $60,000 in luxury goods from the Chanel store in the posh Tysons Galleria mall in northern Virginia back …

Theft

Washington Dairy Worker Charged in $122K Workers’ Comp Scam

Insurance Journal

MARCH 20, 2025

Efrain Alatorre Camarena was charged with felony theft for allegedly collecting workers comp payments while discreetly working at another dairy farm. A Washington farmhand faces felony charges for reportedly stealing more than $122,000 workers’ compensation benefits. A Washington State Department …

Workers Comp

Workers Comp Theft Compensation Workers Compensation

Massachusetts Charges 12 With Running $2.6 Million High-End Car Theft Ring

Insurance Journal

DECEMBER 17, 2024

Massachusetts law enforcement officials report that 12 individuals identified as stealing 63 high-end vehicles totaling more than $2.6 million have been arraigned. Another individual related to the investigation has an outstanding warrant and has not yet been arrested. The takedown …

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Theft Auto Insurance Insurance Insured

Jury Awards $452 Milliin in Damages For Insulin Patch Trade Secrets Theft

Insurance Journal

DECEMBER 8, 2024

Medical device maker Insulet convinced a jury that Korean rival EOFlow owes it $452 million in damages for stealing trade secrets related to insulin pumps, according to a verdict made public in Massachusetts federal court on Thursday. The jury in …

Damage

Damage Theft

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

Insurance Journal

OCTOBER 8, 2024

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

Theft Insurance Claim Auto Insurance Claim

North Carolina Insurance Agent Charged With Forgery, ID Theft on Life Insurance Policy

Insurance Journal

FEBRUARY 11, 2025

A North Carolina insurance agent is awaiting a court appearance next week after he was charged with fraudulently taking out a life insurance policy with Southern Farm Bureau Life Insurance Co. The North Carolina Department of Insurance said that Matthew …

Life Insurance

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West Haven Gains $1 Million From Insurance for Employees’ Theft of Covid Funds

Insurance Journal

DECEMBER 2, 2024

The Connecticut city of West Haven said it is being reimbursed more than $1 million from its insurer to cover the cost of federal pandemic relief funds stolen three years ago by two city employees. Then-state Rep. Michael DiMassa and …

Theft

Theft Insurance Insurer Insured

AIG Can Continue Trade Secret Theft Allegations Against Dellwood

Insurance Journal

MARCH 31, 2025

About a year into the litigation between American International Group and startup Dellwood Insurance Group, a federal judge will allow much of AIG’s lawsuit to proceed against its newest potential competitor in the excess and surplus market. Judge Evelyn Padin …

Theft

Theft Insurance Insurer Insured

Court Differentiates Vandalism from Theft in First Party Insurance Policy

The Property Insurance Law Observer

MARCH 12, 2024

The Court considered whether the Plaintiffs’ loss was caused by theft or vandalism, as neither term was defined in the policy. Plaintiffs argued that the damage was covered under the policy, primarily resulting from theft. Allstate Vehicle & Prop. C22-1174 TSZ, 2023 WL 9000432 (W.D.

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Theft Insurance Policy Policy Personal Property

Man Admits to Tracking Drivers, Programming Keys, Stealing and Then Reselling Vehicles

Insurance Journal

JULY 17, 2024

A New Jersey man has admitted to orchestrating a multistate car theft and fraud ring that involved tracking drivers, programming keys, stealing their cars, and reselling their vehicles. Attorney Philip R. Sellinger said that Warren Guerrier pleaded guilty before …

Theft

Former California Agent Pleads Guilty to 90 Counts of Insurance Fraud

Insurance Journal

OCTOBER 10, 2024

Karen Marie Dondanville, 56, a former broker from Mission Viejo, pleaded guilty to 90 counts including grand theft auto, … A former insurance broker has pleaded guilty to a number of charges including insurance fraud for collecting premiums without placing coverage.

Theft

Theft Agents Premium Insurance Broker

Washington Insurance Agent Charged With Stealing $424K in Premiums

Insurance Journal

FEBRUARY 5, 2025

Edward Hadley was charged with nine counts of first-degree theft following investigations by the Washington … A King County, Washington, judge issued a bench warrant a former Seattle insurance agent charged with stealing more than $400,000 in premiums from his clients.

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Premium Insurance Agent Insurance Agents Agents

High-Net-Worth Insureds’ Top Concerns: Climate, Collectibles and Cyber

Insurance Journal

DECEMBER 3, 2024

A new report on emerging risks affecting wealthy households — those with assets of $500,000 to $5 million — highlights climate change, theft of collectibles and cybersecurity as top concerns. Chubb’s new “2024 Wealth Report: Cultivating Resilience in a Changing …

Cyber

Cyber Theft Risk Insurance

Thieves Targeting Trains in California and Arizona Make off With $2M in Nikes

Insurance Journal

FEBRUARY 26, 2025

Thieves have targeted freight trains running through the deserts of California and Arizona in a string of audacious heists resulting in the theft of more than $2 million worth of new Nike sneakers, including many that haven’t hit the retail …

Theft

Theft Inland Marine Marine

Maryland Man Convicted in $20 Million Insurance Fraud Scheme

Insurance Journal

JANUARY 26, 2025

A federal jury last week convicted a Maryland man for conspiracy to commit insurance fraud, money laundering, filing false tax returns and identity theft, according to the office of U.S. Attorney for the district of Maryland. According to court documents …

Theft

Theft Insurance Insurer Insured

Thieves Targeting Trains in California And Arizona Make off With $2M Worth of Nikes

Insurance Journal

FEBRUARY 26, 2025

Thieves have targeted freight trains running through the deserts of California and Arizona in a string of audacious heists resulting in the theft of more than $2 million worth of new Nike sneakers, including many that haven’t hit the retail …

Theft

Theft Inland Marine Marine

Iowa Couple Pleads Guilty to Insurance Fraud

Insurance Journal

NOVEMBER 13, 2024

An Iowa couple pleaded guilty to insurance fraud, forgery and theft, the Iowa Insurance Division announced. Des Moines – Lance Seastrand, age 52, and his wife, Staci Seastrand, age 56, of Davenport, were sentenced on October 31, 2024, after pleading …

Theft

Theft Insurance Insurer Insured

California Labor Commissioner Cites 19 Car Washes $1.3M for Violations

Insurance Journal

DECEMBER 10, 2024

million in fines for wage theft restitution and civil penalties against 19 car washes in the South Bay area of Los Angeles County and in Orange County. The California Labor Commissioner’s Office issued $1.3 The LCO reportedly found that the …

Theft

Theft Workers Compensation Compensation

Police Scramble to Learn Who Stole 100,000 Eggs Worth $40K From Farm Trailer

Insurance Journal

FEBRUARY 10, 2025

Regarding the theft that law enforcement officials say could be tied to the sky-high cost of eggs, … Police are trying to crack a whodunit over the heist of 100,000 eggs from the back of a trailer in Antrim Township, Pennsylvania.

Theft

Theft Insurance Insured Insurer

CEO of Large California Vocational School in Court on 23 Charges of Insurance Fraud

Insurance Journal

DECEMBER 12, 2024

The CEO of one of California’s largest vocational return to work counseling centers appeared in court this week after being charged with 23 felony counts including insurance fraud, theft and forgery. Hazel Ortega, 53, of La Habra, was charged after …

Theft

Theft Insurance Insurer Insured

How to prevent employee theft: 6 tips business owners should know.

Frankenmuth Insurance

OCTOBER 31, 2024

Employee theft accounts for some of the highest losses among small business owners every year. Follow these six tips to prevent employee theft and protect your small business. Surveillance can be helpful in catching theft, but it should be subtle. Higher wages can help prevent theft. Perform a background check.

Theft

Theft Crime Protection Building

Third Time’s No Charm as Insurance Agent Is Charged Again

Insurance Journal

MARCH 20, 2025

Okolo, of Parkville, Maryland, with theft of property valued at $100,000 or more. A grand jury for Baltimore County has handed down an indictment charging Michael C. This is the third time since September 2024 that Okolo has been indicted …

Insurance Agent

Insurance Agent Insurance Agents Theft Agents

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

Insurance Journal

FEBRUARY 27, 2025

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

Claim Theft Insurance Insurer

Southern California Restaurant Fined $1.1M for Labor Violations

Insurance Journal

MARCH 6, 2025

million over wage theft and sick leave violations. The California Labor Commissioner’s Office took the action against Food Source LLC, a Buena Park restaurant, issuing penalties for wage theft and … A Southern California restaurant has been fined more than $1.1

Theft

What Is Business Income Insurance?

Property Insurance Coverage Law

AUGUST 14, 2024

Fires, thefts, and other unexpected events can bring business to a halt, leading to significant revenue losses. In the world of business, unforeseen events can disrupt operations and severely impact your financial stability. That’s where business income insurance comes in.

Business Interruption

Business Interruption Theft Insurance Insurer

Emerging Trends in Identity Theft and How to Stay Ahead

Mark Jackson Insurance Agency

JANUARY 7, 2025

Identity theft is no longer limited to stolen credit card numbers or Social Security fraud—it has evolved into a complex web of cybercrime targeting individuals and businesses alike. Staying informed about emerging trends in identity theft can help you protect your personal information and take proactive steps to minimize your risk.

Theft

Theft Protection Policy Risk

Homeowners Insurance Does Not Cover Cryptocurrency Theft, 4th Circuit Affirms

State Farm: Catalytic Converter Thefts Drop 74%

Trending Sources

Hyundai, Kia’s Anti-Theft Measures Fuel Steep Dip in US Vehicle Thefts

An Increase in Identity Theft, Cybercrime Predicted in 2025

Cargo Theft Surges as Holiday Season Approaches, Verisk Says

California Labor Commissioner Gets $1.7M Settlement in Wingstop Wage Theft Case

Hyundai, Kia Software Upgrades Cut Theft Rates By More Than Half, HLDI Finds

Scrap Metal Dealer Pleads Guilty in Multistate Catalytic Converter Theft Conspiracy

Cargo Theft Surges to Record Levels in 2024

Homeowners Insurance Does Not Cover Cryptocurrency Theft, 4th Circuit Affirms

Former State Employee Pleads Guilty to Insurance Fraud and Felony Theft

What is Strategic Cargo Theft? – What’s Brewing Podcast (Episode 6)

Former Corrections Officer Going to Jail for Insurance Theft

ECM Theft Is Skyrocketing—Here’s How to Stay Ahead

Fourth Gang Member Sentenced for Thefts of Warhol, Pollock Art and Yogi Berra Rings

Theft and Violence in UK Retail Soar to Record Levels, Survey Shows

Former Ohio Insurance Agent Sentenced to Probation for $1.4M Theft

Washington, Nevada and Oregon Saw Biggest U.S. Vehicle Theft Drops in 2024

Virginia County Police Report Some Success Against High-End Theft Rings

Washington Dairy Worker Charged in $122K Workers’ Comp Scam

Massachusetts Charges 12 With Running $2.6 Million High-End Car Theft Ring

Jury Awards $452 Milliin in Damages For Insulin Patch Trade Secrets Theft

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

North Carolina Insurance Agent Charged With Forgery, ID Theft on Life Insurance Policy

West Haven Gains $1 Million From Insurance for Employees’ Theft of Covid Funds

AIG Can Continue Trade Secret Theft Allegations Against Dellwood

Court Differentiates Vandalism from Theft in First Party Insurance Policy

Man Admits to Tracking Drivers, Programming Keys, Stealing and Then Reselling Vehicles

Former California Agent Pleads Guilty to 90 Counts of Insurance Fraud

Washington Insurance Agent Charged With Stealing $424K in Premiums

High-Net-Worth Insureds’ Top Concerns: Climate, Collectibles and Cyber

Thieves Targeting Trains in California and Arizona Make off With $2M in Nikes

Maryland Man Convicted in $20 Million Insurance Fraud Scheme

Thieves Targeting Trains in California And Arizona Make off With $2M Worth of Nikes

Iowa Couple Pleads Guilty to Insurance Fraud

California Labor Commissioner Cites 19 Car Washes $1.3M for Violations

Police Scramble to Learn Who Stole 100,000 Eggs Worth $40K From Farm Trailer

CEO of Large California Vocational School in Court on 23 Charges of Insurance Fraud

How to prevent employee theft: 6 tips business owners should know.

Third Time’s No Charm as Insurance Agent Is Charged Again

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

Southern California Restaurant Fined $1.1M for Labor Violations

What Is Business Income Insurance?

Emerging Trends in Identity Theft and How to Stay Ahead

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