If you were born and raised in New Jersey like me, you’ve heard your share of New Jersey jokes from interlopers who think the entire state looks like the Turnpike near Newark Airport. (“What exit?” How wonderfully clever.) My response to these jokes is two-fold. First, trust me on this, we don’t like you, either.
fraud
Detecting fraudulent certificates of insurance
By Gene Killian on
Posted in Crime or theft, Fraud
Here’s a piece of useless trivia for you. You know that old saying that something “isn’t worth the paper it’s written on”? The saying apparently originated back in 1861, when Count Johann Bernhard von Rechberg und Rothenlöwen (remember him?), an Austrian statesman, was presented with a document recognizing Italy as a nation-state, and first uttered…
Insurance coverage for allegations of fraud
By Gene Killian on
Few things are certain in life. Death. Taxes. The ineptitude of New York Mets management. And also, the fact that if you sue an insurance company in state court, and the carrier has a basis upon which to remove the case to federal court, they’re going to do it. Insurance companies think that federal judges…
Fidelity Bonds and Employee Fraud
By Gene Killian on
It’s amazing to me that Nigerian banker scams continue to appear in my inbox every now and then. After all these years, businesspeople apparently continue to fall for them. Click here for a pretty good fact sheet from the Australian government on how these scams work, and how to avoid them.
Recently, a Minnesota bank…
Are Punitive Damages Insurable?
By Gene Killian on
Posted in Professional Liability, Violation of law
The answer is maybe, under some circumstances. Unfortunately for the major accounting firm BDO Seidman, however, such circumstances didn’t exist in a recent New York coverage decision. You can read the full opinion by clicking here.
BDO’s coverage dispute stemmed from a $92 million Florida jury verdict against BDO (ouch), which included $55 million…