Aon has filed a motion calling for the New York state lawsuit that fronting specialist Clear Blue Insurance filed against it, in relation to the reinsurance letter of credit (LOC) fraud perpetrated by insurtech Vesttoo, to be dismissed in its entirety.
Tag: Clear Blue
Clear Blue Files Legal Action Against Aon Over Vesttoo LOC Fraud Issue
Artemis has learned that fronting specialist Clear Blue Insurance has filed a lawsuit against broking giant Aon, in relation to the reinsurance letter of credit (LOC) fraud perpetrated by insurtech Vesttoo.
Israeli AI Startup Vesttoo Sparks a Global Insurance Scandal
A hot Israeli startup promised to use artificial intelligence to spread the risk of insurance policies. Now, Vesttoo is embroiled in scandal thanks to an old-fashioned problem: an alleged multi-billion-dollar fraud involving faked letters of credit.