The National Association of Insurance Commissioners (NAIC) has launched an on-line insurance fraud reporting system, available to consumers who wish to report suspected fraudulent activity. The system allows consumers to provide detailed information anonymously. It is a major initiative of the NAIC Executive Task Force on Broker Activities, one part of a three-part action plan to address alleged criminal misconduct and violations of existing insurance laws involving insurance companies and insurance brokers. These components include the implementation of a new on-line fraud reporting system; creating more transparency for insurance consumers through better disclosure of broker compensation arrangements; and coordination of state insurance departments’ efforts to address improper conduct by brokers and insurers through investigation and collection of relevant information.

February 1, 2005