“A certificate of insurance is a document, normally issued by an insurance broker, that supposedly verifies the existence and terms of an insurance policy,” write Gene Killian in The Killina Firm’s Fraud.

He discusses how “It’s common in the construction industry, where contractors and subcontractors are generally required to carry certain types of coverage, but really, the insurance card in your car is also a kind of certificate of insurance. The certificate of insurance is one of the most important documents that you can review in connection with your business contract, because if something goes wrong, you may need to tap that coverage.”

“The problem is, when it comes to enforcing the terms of the coverage reflected on the certificate of insurance, the certificate of insurance is essentially worthless. It’s just a written statement by an insurance broker, not an actual policy.  While it might get the broker or policyholder into trouble for negligence or misrepresentation if it’s not valid, it creates no rights against the insurance company.”

Read the article.

Akerman LLP has announced the launch of a national Fraud & Recovery Practice Group, resulting in what it calls one of the most comprehensive, multidisciplinary legal teams devoted exclusively to fraud and recovery to be established by a national law firm.

In a release, the firm said the new team leverages the combined strengths of lawyers from the firm’s litigation, healthcare, bankruptcy, and data law practices, including a formidable group of trial and appellate lawyers with substantial experience litigating fraud cases in state and federal courts throughout the United States.

“Together the group provides comprehensive fraud management services for large insurance companies and self-insured retailers, including detection, investigation, and litigation of complex schemes and unfair and deceptive practices.” the release says. “The team also handles corporate theft, and recovery after data breach, with a focus on financial losses, and has particular experience in all aspects of liquidating Ponzi schemes.”

The group is led by co-chairs David I. Spector, who has reshaped case law in affirmative fraud investigation and litigation, and Michael I. Goldberg, who is qualified as an expert witness on Ponzi schemes and has liquidated some of the largest recoveries in U.S. history.

Read the complete announcement.