Fraud law casts a wide net

Article Abstract:

The Insurance Fraud Prevention Act of 1994 exposes insurance companies to greater criminal liability due to provisions broadening the powers of federal investigators, courts and prosecutors. The law prohibits the presentation of insurance-related financial reports that are materially false, misappropriation of funds owned by an insurer and allowing an individual charged with felony involving dishonesty to get involved in the insurance business. Insurers are advised to take the necessary steps to comply with the law.

Police Protection, Fraud, Insurance fraud

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Do the right thing

Article Abstract:

Government regulators and consumer groups are supporting new laws and regulations which seek to end alleged prejudices in the insurance industry. Some of insurance industry's business practices have low levels of popularity among consumers and the general public. These practices include the use of genetic testing, credit reports and redlining in evaluating and accepting insurance applications. The insurance industry is opposing moves to legislate the industry's underwriting practices.

Social aspects, Insurance, Discrimination in insurance, Insurance discrimination

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