HB0372 Lakin, Scott et al

P R E F I L E D

HB 372 -- Insurance Fraud

The bill contains several provisions of law relating to insurance fraud. The bill:

(1) Enhances the penalty for insurance fraud from a class D felony to a class C felony, if the amount of fraud is greater than $5,000;

(2) Allows law enforcement agencies, the Department of Insurance, and insurers who have reason to believe a fraudulent act has been committed to have access to records of insurance companies concerning suspected fraud;

(3) Requires insurers to report suspected fraud to the local law enforcement agency;

(4) Eliminates the requirement that the Department of Insurance report any alleged violation of law to law enforcement; and

(5) Makes it discretionary for the Department of Insurance to investigate suspicious cases of insurance fraud.