It Figures

10

The number of states now reporting an international mail fraud scheme involving a bogus letter said to be from Nationwide Insurance. Residents in 10 states have received counterfeit checks bearing the Nationwide name. Each check has been issued in the amount of $4,500 and has been accompanied by a letter that informs the recipient that they are the winner of a $150,000 “Consumer Promotion Draw” organized for consumers who shop in major stores in the U.S., Canada and United Kingdom. The letter maintains that the $4,500 check has been issued to cover the “Non-Resident Government Tax” the consumer will have to pay to a British Tax Officer, according to the department warning. The individuals generating the correspondence and counterfeit checks have no affiliation with Nationwide Insurance and are fraudulently using the Nationwide name.

33%

The decline in thefts of cars and trucks in the Phoenix area over last few years, according to law enforcement and insurance industry experts. Roughly 55,300 cars, trucks and motorcycles were stolen in 2004, compared with 37,200 last year. Officials site several reasons for fewer car thefts including new police technology, such as automatic license-plate readers, “bait'” cars, and better security features in cars.

$70 Million

The amount in filed workers’ compensation claims being withdrawn by a Southern California medical management company accused of fraudulent billing. It is the largest workers’ compensation mass dismissal of liens in California history. The company, Premier Medical Management Systems, Inc., has been under investigation and in litigation before the California Workers’ Compensation Appeals Board since 2004, in a suit brought by 23 insurance carriers. The carriers include The Travelers Companies, Inc., and the Explorer Insurance Co., as well as self-insurers such as the County of Los Angeles. A criminal investigation has also been launched against Premier.

$1.9 Billion

The amount raised in an IPO by Verisk Analytics Inc., an insurance services firm that owns ISO and partly owned by Warren Buffett’s Berkshire Hathaway. It was the largest IPO by a U.S. company in 18 months. The successful launch stirred hopes that the appetite for such offerings is warming.

$49 Million

The amount a Northern California jury recently ruled that the state and two truckers are liable for in personal injury damages after an accident that left a college student with brain damage. The award is one of the largest personal injury verdicts delivered in Santa Clara County in recent years, according to the Reeves Law Group, the firm representing the student.

Topics California Workers' Compensation