Fed up with what they claim is deliberate claims fraud that is triggering skyrocketing costs — and ever-higher premiums for consumers — two Florida insurance companies have gone on the offensive against alleged fraudsters using a legal tool developed to help federal prosecutors fight organized crime. Lawsuits by Citizens Property Insurance Corp. and Heritage Property… Continue reading Insurers Using RICO Act to Strike Back Against Alleged Fraud
Tag: RICO
State Farm Averts Racketeering Trial with $250 Million Accord
State Farm agreed to pay $250 million on the brink of a trial to customers who claimed the company tried to rig the Illinois justice system to wipe out a $1 billion jury verdict from 19 years ago. The customers were seeking as much as $8.5 billion in damages in a civil racketeering trial that… Continue reading State Farm Averts Racketeering Trial with $250 Million Accord