The Coalition Against Insurance Fraud has reported that South Dakota Governor Mike Rounds recently signed a bill, HB 1058, requiring the insurance division to finish investigations of anyone in the insurance business within two years.
The state’s revenue department, which houses the division, will conduct 60-day reviews of investigations that miss the deadline. The revenue department will hand its findings to the attorney general for final decisions.
The new requirement was spurred by lengthy investigations against insurance agents who say the probes ruined their reputations even though they were ultimately cleared of charges.
Source: Coalition Against Insurance Fraud
Was this article valuable?
Here are more articles you may enjoy.
Illinois Man Receives $300K Settlement From Dog Attack 
Progressive Is Biggest Auto Insurer, Surpassing State Farm, Says S&P GMI 
Half of Pilots Killed in US Accidents Tested Positive for Drugs 
Billionaire Boehly’s Allies Donated Heavily to Kansas Insurance Regulator 
