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AAPL   269.69 (+2.75%)
MSFT   168.58 (+2.00%)
AMZN   1,997.59 (+0.00%)
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GE   7.23 (+0.00%)
AMD   2.67 (-94.38%)
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NFLX   379.96 (+0.00%)
GILD   77.73 (+0.00%)
PRI   91.33 (+7.54%)
S&P 500   2,749.87 (+3.24%)
DOW   23,509.22 (+3.66%)
QQQ   201.82 (+2.72%)
AAPL   269.69 (+2.75%)
MSFT   168.58 (+2.00%)
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AMD   2.67 (-94.38%)
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GILD   77.73 (+0.00%)
PRI   91.33 (+7.54%)
S&P 500   2,749.87 (+3.24%)
DOW   23,509.22 (+3.66%)
QQQ   201.82 (+2.72%)
AAPL   269.69 (+2.75%)
MSFT   168.58 (+2.00%)
AMZN   1,997.59 (+0.00%)
CGC   15.05 (+7.81%)
BABA   196.45 (+0.00%)
GE   7.23 (+0.00%)
AMD   2.67 (-94.38%)
T   29.44 (+0.00%)
NFLX   379.96 (+0.00%)
GILD   77.73 (+0.00%)
PRI   91.33 (+7.54%)
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Lawsuit: 52 people faked Uber accidents for insurance money

Posted on Thursday, February 20th, 2020 By The Associated Press

COLUMBIA, S.C. (AP) — Some South Carolina residents deliberately caused hit-and-run accidents while in Uber rides as part of an insurance scam, a car insurance company says in a lawsuit.

The lawsuit from James River Insurance says 52 people were involved in an insurance scheme that cost the company more than $75,000 in claims, The State reported Thursday. The suit was filed in August.

The case involves 21 collisions reported to the company in the Columbia area between June 2017 and January 2019. The damage claims ranged from minor to thousands of dollars. Many of the people involved knew each other, the lawsuit says.

It says that in one incident an Uber driver was working with her two passengers and the driver and passengers of another vehicle. The second vehicle allegedly ran a stop sign and crashed into the Uber, causing almost $9,000 in damage, the lawsuit said.

One person has responded to the lawsuit and denied the insurance company's claims.

A spokesman for the Columbia office of the FBI said the agency is aware of the lawsuit but declined to say if it is investigating. None of the defendants have been charged with a crime.

Uber couldn't be reached for comment Wednesday.

Companies Mentioned in This Article

CompanyCurrent PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Uber Technologies (UBER)$27.87+7.2%N/A-3.36Buy$44.91

5 Travel Company Stocks Likely to Suffer From the Coronavirus

How important is the global travel and tourism industry? It’s a sector that accounts for about 10% of the world’s adult workforce. That’s 350 million people. The industry also accounts for at least 4% of the global gross domestic product (GDP).

In short, it’s an industry that accounts for trillions of dollars for the economy. And it relies on the most visible workers like pilots and cruise ship captains to the kitchen and housecleaning staff and servers. The travel industry is in many ways a service industry. But when there’s nobody to service, these businesses take a tumble.

And tumble it has. The world is going through a period of enforced social distancing. Many countries are taking even more extreme measures to lock down parts, or all, of their countries in an effort to contain the spread of the coronavirus and to flatten the curve to prevent healthcare workers and hospitals from being overwhelmed.

But that means fewer people are flying. Planned vacations are being canceled. And all of this is bad news for a sector that relies on the mobility of global travelers.

To be fair, the best of these companies should recover just fine. However, some of these companies had fundamental concerns that will be magnified by the loss of revenue.

View the "5 Travel Company Stocks Likely to Suffer From the Coronavirus".

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