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MO SB697
Bill
AI Summary
- Expands civil liability immunity for insurers, their employees, agents, and other persons acting without malice who file fraud reports or furnish information to law enforcement, other insurers, government agencies, the National Association of Insurance Commissioners, the National Insurance Crime Bureau, or recognized database systems
- Eliminates immunity for persons who knowingly and intentionally communicate false information relating to suspected or anticipated fraudulent insurance acts
- Creates new civil cause of action allowing insurers injured by violations of section 375.991 to recover profits, attorneys' fees, legal expenses, court costs, economic damages, and reasonable investigative fees from violators
- Permits insurers to recover up to three times the amount of economic damages upon clear and convincing evidence that a violation was committed knowingly with intent to defraud
- Establishes statute of limitations of five years from commission of violating acts or two years from discovery by insurer, whichever is later
Legislative Description
Expands the civil immunity provided to insurers for furnishing information related to insurance fraud investigations
Last Action
SCS Voted Do Pass S Small Business, Insurance and Industry Committee - (5474S.03C)
2/28/2012
Committee Referrals
Small Business, Insurance And Industry2/2/2012
Full Bill Text
No bill text available