The Washington State Insurance Commissioner’s bill would also expand the statutory definition of victims of insurance fraud to include insurance consumers and insurance beneficiaries, making them eligible for criminal restitution, and expand statutory reporting of suspected insurance fraud to the Insurance Commissioner by adding regulators of health care or financial services businesses and other law enforcement and public safety agencies as required reporters. The Office of the Insurance Commissioner links these measures to the broader problem of insurance fraud, which it says costs insurance companies $300 billion a year and is passed on to consumers in the form of higher premiums.
Washington State unanimously advances insurance fraud modernization bill & more related News Here
