Insurance Fraud Act

The act addresses the detection, investigation, and enforcement of insurance fraud, assigning oversight duties and rulemaking authority to the state insurance regulator and enforcement responsibilities to the attorney general, and equipping designated investigators with formal investigative powers. It obligates insurers to maintain anti-fraud initiatives and special investigative units, to notify authorities of suspected fraud and cooperate with resulting inquiries, and to display fraud warnings on insurance forms, while shielding those who report suspected fraud from civil liability and requiring that convictions be reported. It also creates supporting institutional machinery: a dedicated insurance fraud fund with an appropriation, an advisory group on fraud policy, and a board-governed authority charged with preventing automobile theft.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.