|
SB 697 - Current Missouri law allows insurers and others to share information related to insurance fraud investigations without being subject to civil liability for libel. This act expands the immunity afforded to insurers and others for filing reports and furnishing other information related to an insurance fraud investigation so that the insurer will not be subject to civil liability of any kind, including libel and slander. Additionally, the act provides that no civil cause of action of any nature shall arise against a person for furnishing or receiving information related to suspected or anticipated fraudulent insurance acts to or from: 1) Law enforcement officials, agents and employees; 2) Persons subject to section 375.991; 3) Federal and state agencies, the NAIC, the National Insurance Crime Bureau, or any other organization established to detect and prevent fraudulent insurance acts. In addition to expanding the current immunity afforded to insurers for providing information related to fraudulent insurance acts, the act also allows insurers that have been injured from a person committing a fraudulent insurance act to recover: 1) Any profits, benefits, compensation, or payment received by the person committing the fraudulent insurance act; 2) Reasonable attorneys' fees and other related legal expenses; 3) All other economic damages directly resulting from the violation; and 4) Reasonable investigative fees. If the insurer can show by clear and convincing evidence that the violation was committed knowingly with an intent to defraud, it shall be entitled to recover treble damages for its economic damages. Under the act, the insurer must bring the action to recover damages within 5 years of the commission of the acts constituting such violation, or within 2 years of the time the insurer discovered, or with reasonable diligence could have discovered such acts, whichever is later. STEPHEN WITTE
|
