You are here:HomeNews CenterInsurance News2017NAIC Reports to Congress on Antifraud Efforts

NAIC Reports to Congress on Antifraud Efforts

A hearing on insurance fraud was held Aug. 3 by the U.S. Senate Subcommittee on Consumer Protection, Product Safety, Insurance, and Data Security.
NAIC Reports to Congress on Antifraud Efforts

Oklahoma Insurance Commissioner John Doak

August 8, 2017

John Doak, Oklahoma Insurance Commissioner, testified before Congress August 3 on behalf of the National Association of Insurance Commissioners (NAIC) about trends in insurance fraud. The hearing, “Insurance Fraud in America: Current Issues Facing Industry and Consumers,” was held by the U.S. Senate Subcommittee on Consumer Protection, Product Safety, Insurance, and Data Security.

“The cost of insurance fraud is passed on to all of us as insurance consumers, so fighting it is one of the highest priorities of state insurance regulators,” Doak testified. “We work with insurers and their special investigation units to investigate suspected fraud and ensure companies are complying with state fraud prevention statutes.”

The NAIC’s Antifraud Task Force is working to improve the exchange of information among insurance regulators, law enforcement officials, insurers and antifraud organizations. The task force is developing uniform insurance fraud referral requirements for insurers to submit suspected insurance fraud data. The NAIC continues to develop and update seminars, trainings and webinars for regulators to identify and combat fraud.

Filed under: