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Zalma\\u2019s Insurance Fraud Letter  

A ClaimSchool\\u2122 Publication \\xa9 2022, Barry Zalma & ClaimSchool, Inc.,  Go to my blog & Videos at: Zalma on Insurance, and at https://zalma.com/blog      

The full issue in Adobe .pdf format is available here.  The following are summaries of some of the articles that can be found in  the current issue. Allianz Subsidiary Pleads Guilty to Defrauding Investors Prosecutors Also Brought Charges Against Three Former Allianz Employees,  With Two Agreeing to Plead Guilty  One of Allianz SE\\u2019s ALIZF investing divisions pleaded guilty to  securities fraud and agreed to pay about $6 billion in penalties and  restitution to investors who suffered losses when some of the  subsidiary\\u2019s hedge funds tanked during the March 2020 market selloff. Florida Proposes Changes to Reduce Fraud  Florida\\u2019s lawmakers are concerned that property insurance for citizens  of the state and intend to work to defeat or deter fraud and abuse by  the means of insured\\u2019s assigning benefits (AOB) to public insurance  adjusters, roofers, contractors or lawyers. Florida\\u2019s CFO Jimmy Patronis  is leading the effort. Speaking alongside Florida\\u2019s Citizens Property  Insurance Corporation\\u2019s CEO Barry Gilway, Patronis laid out five key  areas for reforming Florida\\u2019s property insurance marketplace. 

North Carolina Judge Orders Lindberg to Give Up Control of Firms to  Repay Insurers

Other Insurance Fraud Convictions  Guilty of Faking Auto Theft  John Michael Fletcher, 61, was convicted of False Reports and Filing a  False Insurance Claim. Fletcher, a Knoxville man was convicted of  falsely telling police his car had been stolen before attempting to  receive an insurance payment for more than the vehicle\\u2019s worth.  On December 7, 2018, Fletcher asked an employee to move his H3 Hummer  motor vehicle. He then told Knoxville Police and his insurance company  that the Hummer had been stolen. Bright and Roberts explained that  Fletcher claimed he had purchased the vehicle for nearly double what he  actually paid for it.  Nearby surveillance video showed the vehicle being moved, and once the  vehicle was found, there were no signs of forced entry or damage to the  ignition showing it had been stolen. At sentencing, prosecutors expect  to seek an enhanced sentence because Fletcher reportedly threatened the  insurance agent when they did not pay the claim. Fletcher also has a  prior conviction for Second Degree Murder out of Washington County,  Tennessee.  False Reports and Filing a False Insurance Claim are both Class D  felonies carrying a punishment between two and four years. Sentencing  for this case will take place on July 16. New Book: Ethics for The Insurance Professional Third Edition