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.
Starbucks Restores Scheduling App Taken Down by Hack to Vendor 
Hacking Rooftop Solar Is a Way to Break Europe’s Power Grid 
Target Must Face Shareholder Lawsuit Over Pride Backlash, US Judge Rules 
Nearly 1,000 Feared Dead After Cyclone Hits France’s Mayotte 
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.