Insurance News Today; Insurance Agent Pleads Guilty, and Florida Condo’s Case Moves Ahead

insurance news

Author: SK

Monday, July 26, 2021

Lately, many catastrophic events are occurring in the US. Recently, an insurance agent pleads guilty because she defrauded her client by diverting their insurance premium to her personal use. Besides, the infamous Florida Condo’s collapse case went to trial, and the judge is now willing to negotiate an initial settlement.

Also, it came to our attention that California’s wildfires are causing mayhem across the West side of the US. The wildfires are widespread across the West, and they are causing damages to buildings. Let’s find out about these issues in more detail.

Judge Announces First Settlement

As the condo fall case moves forward, the judge is willing to grant $150 million to the victims of the blemishing event as part of their initial settlement. The total sum comprises $50 million in insurance for the building and the rest from the sale proceeds of the Surfside property. There are around 97 victim bodies, and the sum covers compensation for all of them.

The collapse was indeed a very traumatic event for the entire of Florida because many lives were lost. Even small kids were caught up in the mayhem. The debris is so much, which is making it challenging to identify total dead bodies. The Californian government is keeping all of the debris in a nearby warehouse as evidence for the lawsuit.

Anna Garcia Pleads Guilty

Anna Garcia, a licensed insurance agent, pleads guilty in Orange County court for embezzlement of money. Anna was an active agent working for State Farm Agency till 2014. Anna is responsible for embezzling over 300 cheques totaling $195,000 in her personal bank accounts. The news came to light when she couldn’t provide her clients auto and life insurance coverage. 

Also, she took one of her client’s money for paying someone else. On 2nd July, the CDI revokes her license, and she and her prison sentence were to begin on July 21st.

Final Verdict

Every day, an insurance company faces multiple issues. The raging Dixie and Tamarack fires of California are destroying many properties. The fire in Alpine County has led to destroying at least ten properties. This news suggests that home insurance will face an upward trend in California because of inevitable damages.

It’s always a good idea to secure your property by purchasing home insurance, saving it from future wild disasters. If you want to secure your home, check for insurance quotes at insurance shopping.