Switch back to WCC classic look

WorkCompCentral – Workers' Compensation Education, Courses, News and Information

Call or email us anytime
(805) 484-0333
Search Guide
Today is Saturday, August 17, 2019 -

News Articles

Insurance Commissioner Indicted on Fraud Charges

  • State: Georgia
  • Topic: SOUTH
  • -  606 views
  • - Average time spent on item: 34 minutes
  • - Popular with: Legal
  • -  0 shares

Georgia Insurance Commissioner Jim Beck, elected just six months ago, has been indicted on federal charges of insurance fraud.

Commissioner Jim Beck

Commissioner Jim Beck

A federal grand jury today issued a 38-count list of charges against Beck that include wire fraud, mail fraud and money laundering, in connection with an association he established to provide insurance to high-risk residential property, according to the indictment and a news report in the Atlanta Journal-Constitution.

Beck, whose office oversees Georgia's Board of Workers' Compensation, allegedly encouraged friends to start companies and send the invoices to his Georgia Underwriting Association. Beck then funneled money to himself through two companies he controlled, even using some of the funds to bankroll his campaign for insurance commissioner last year, prosecutors said.

Beck's lawyers said he would mount a vigorous defense against the charges.

Attorney Bill Thomas told the newspaper that Beck “acted legally and in good faith” in his position at the Georgia Underwriting Association.

“Under his leadership, for the first time in its history, GUA made millions of dollars of profits,” Thomas said. “We are also pleased to note that these allegations do not relate to Jim’s performance as the Commissioner of Insurance.”

Under state law, if Beck does not resign or ask to be suspended, the governor can act after 14 days. If the elected official chooses to remain in office, the governor must appoint a three-person commission to look into the charges and determine if they relate to his duties. If they find that they do, the governor must suspend the official and name a temporary replacement, according to the news report.

In an interview with WorkCompCentral in January, Beck said he planned to examine some potential changes to the Georgia workers' compensation system, including how insolvent carriers are handled, and how some claims disproportionately affect experience modification.

He also pledged to make the Insurance Department more transparent and responsive to consumers, and to double the penalties for fraud committed by insurance companies. According to the Atlanta newspaper, he has taken steps in that direction and has posted data on complaints against insurers.

Throughout the campaign last year, Beck was dogged by reports that he was under investigation and that he held full-time state jobs and private-sector jobs at the same time.

No Comments

Log in to post a comment

Close


Do not post libelous remarks. You are solely responsible for the postings you input. By posting here you agree to hold harmless and indemnify WorkCompCentral for any damages and actions your post may cause.

Featured Video

Upcoming Events

  • Aug 3-17, 2019

    2019 Legal Specialization Test

    Overview: This 3-part webinar series instructed by Hon. Clint Feddersen is designed to prepare ex …

  • Aug 20-21, 2019

    The BIG 2019 Fraud Fighting &

    The Employers' Fraud Task Force in collaboration with The Law Firm of Floyd, Skeren, Manukian and …

  • Aug 20, 2019

    2019 Regional Safety Seminars

    DWC offers a series of regional safety seminars that provide affordable training on common causes …

Workers' Compensation Events

Social Media Links


WorkCompCentral Workers' Compensation
News and Education
4081 Mission Oaks Blvd
Camarillo, CA 93012
(805) 484-0333