The Kansas Senate passed Insurance Commissioner Sandy Praeger’s anti-fraud legislation last week. The bill now moves to House of Representatives.
Senate Bill 207 “would give the Kansas Insurance Department the ability to act quickly and with greater authority upon learning of any fraudulent activity,” Praeger said in a statement.
SB 207 would help the insurance department more effectively deal with the ever growing problem of insurance fraud by mandating the reporting of suspected insurance fraud to the insurance department by any individual having knowledge of such actions. The legislation would also require each insurer to have an anti-fraud plan in place.
Fraudulent insurance incidents are occurring in every line of insurance, and costs consumers billions per year in unpaid claims. According to the National Insurance Crime Bureau, it is estimated that insurance fraud costs Americans about $30 billion each year which translates into $200-$300 in higher insurance premiums for the average household.
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