The Colorado House has passed a bill to increase funding to help fight insurance fund by surcharging insurance companies. Insurers currently are charged $425 annually, and House Bill 1385 that amount to $561.
Revenue from this insurance fraud fee would be deposited in the Division’s newly created insurance fraud cash fund, and replaces the fixed insurance fraud fee, for the attorney general to direct toward investigations and prosecutions. The bill now is before the Senate for review.
Was this article valuable?
Here are more articles you may enjoy.
The Future of the Agency in a World of AI 
GEICO Sues Medical Firms in Florida, NY Over Alleged No-Fault Auto Fraud 
CyberCube: Insured Loss Estimate From AWS Outage Likely About $40M 
Trucking App Trucker Path Launches Retail Insurance Agency 
