Fraudsters target bigger payouts as insurers detect £1.34 billion of bogus claims - abi.org.uk
Fraudsters target bigger payouts as insurers detect 1.34 billion of bogus claimsabi.org.
alleging it mismanaged its $1 billion 401(k) plan and charged participants excessive fees, ruling the plan participants' claims were too thin to hold up. A three-judge panel on Monday in a published opinion ruled Andrew Albert, who worked for an Oshkosh Corp. subsidiary, hadn't given concrete evidence about similar plans to support his breach of fiduciary duty claims under the Employment Retirement Income Security Act. "This court has repeatedly emphasized that the cheapest investment option is not necessarily the one a prudent fiduciary would select,". . .
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Fraudsters target bigger payouts as insurers detect 1.34 billion of bogus claimsabi.org.