An insurance company that sells federally reinsured policies nationwide to farmers in need of crop insurance has agreed to pay the U.S. $44 million to settle False Claims Act allegations that it knowingly issued ineligible policies and falsified documents to boost its profits. According to the U.S. Justice Department, Fireman’s Fund Insurance Company, an Allianz SE subsidiary headquartered in Novato, Calif., participated in the federal crop insurance program, selling and servicing crop insurance policies that were reinsured by the U.S. Department of Agriculture (USDA) for a portion of the risks. U.S. prosecutors alleged that the insurance fraud scheme involved Fireman’s Fund ... Read More
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