The readers of this magazine are well aware of the financial toll that insurance crime exacts upon insurance companies and policyholders. You also are aware of the efforts by individual insurers, the industry as a whole, regulators, and legislators to work with law enforcement in the prevention, detection, and prosecution of criminals.
Over the years, a variety of laws have been enacted at the state and federal level to try and facilitate this effort, which remains a work in-progress. The laws are all over the map, addressing claims and premium fraud, as well as fraud-reporting immunity.
The Property Casualty Insurers Association of America has been tracking changes to insurance crime laws and regulations for member companies, and publishing a comprehensive fraud compilation. The compilation highlights that many states have created fraud bureaus, housed in a variety of state agencies: insurance departments, workers' compensation agencies, attorneys general, state police, etc. Some are multi-line in terms of jurisdiction, while others are limited to investigating workers' compensation claims.
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