MI HB5197

Requires insurers to report suspected fraudulent insurance acts involving Michigan policyholders or assigned claims plan benefits to the director on a prescribed form, including all relevant factual circumstances and party information.

Authorizes the director to review fraud reports, conduct investigations as necessary, and report suspected fraudulent acts to the insurer, authorized agencies, county prosecuting attorneys, or the attorney general.

Exempts insurers from reporting requirements if their investigation determined the suspected act was not actually fraudulent or if they lack reasonable grounds to believe fraud occurred.

Does not relieve insurers of their obligation to report suspected violations of law to authorized agencies through other means.

Requires authorized agencies to submit requested papers, documents, reports, and evidence to the director and cooperate with fraud investigations.