CT SB00309

Establishes a Division of Insurance Fraud within the Insurance Department to enforce insurance laws, detect actual or potential insurance fraud, and receive and investigate fraud complaints.

Division director reports quarterly to the commissioner on number of complaints received, investigations undertaken, types of complaints, and status of cases; reports published semi-annually and available to the public.

Commissioner reports annually to the joint standing committee on insurance regarding division findings and legislative recommendations to address recurring problems.

Start-up costs funded by settlement proceeds from the Attorney General's December 2010 settlement with Liberty Mutual Insurance Company, transferred from the General Fund.

Creates a separate nonlapsing "insurance fraud account" within the Insurance Fund to receive division appropriations and any fines, fees, or settlement proceeds from enforcement actions and investigations; division director and staff appointed by commissioner under Chapter 67.