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Long Island Man Is Charged With Insurance Fraud in Faked Drowning Case

A Long Island man suspected of faking his drowning to collect more than $400000 in life insurance was arrested Wednesday and formally charged with insurance fraud, conspiracy and filing a false report.

Senh: A city wide search, father/son disputing each other's stories, dysfunctional families ... sounds like it could be a Wes Anderson or Coen brother movie.

States Say Life Insurers Skimp on Payouts

States are investigating whether some of America's largest life insurers are failing to ensure that they pay out policies on deceased customers, in a battle that could shift hundreds of millions of dollars to state coffers.

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AIG crisis could be tip of an insurance iceberg

The company's situation reflects problems throughout the life insurance industry as investments suffer. Further strain could bring about a second financial crisis.

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