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Fraud
Ponzi schemes—where clients can find coverage
In response to the fraudulent acts committed by Wall Street profiteer Bernard Madoff, some investment advisors/brokers told my clients who had lost money to file a claim under their homeowners insurance. Isn’t there some other recourse for victims in this type of situation? Would the homeowners policy even cover such a loss?
Credit-card fraud
Is there some way to insure a business owner when a stolen credit card is used to purchase merchandise, typically, over the phone or internet? The business owner runs the transaction on a card and it initially clears. Then the business owner ships the product in good faith. Later the credit-card company informs the business owner of the fraudulent use of the card, either voiding or reversing the charge.