Ex-Insurance Adjuster To Pay $22M For Fraud Scheme

By Carolina Bolado (March 7, 2011, 7:55 PM EST) -- A New York federal judge ordered a former executive of an insurance adjusting company to pay $22 million Monday for his role in an alleged scheme to defraud Chubb & Son Inc. by submitting false or inflated claims and bribing experts and company employees.

Judge Carol Bagley Amon of the U.S. District Court for the Eastern District of New York issued an order adopting a magistrate judge's report recommending partial summary judgment against Elliott Zerring and the award of treble damages to Chubb & Son.

Zerring, the former chief executive officer of Great Neck, N.Y.-based Interstate Adjusters Inc., is one of...

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