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
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