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Committee clears bill letting insurance department retain small surplus to fund anti-fraud investigations
Summary
House Bill 401 would let the Department of Insurance keep unspent assessed fees rather than returning excess directly to carriers; Department and law-enforcement witnesses said retained funds will fuel fraud investigations and enforcement.
House Bill 401, carried by Representative K. Dickerson and requested by the Louisiana Department of Insurance (LDI), was reported favorably by the House Insurance Committee after testimony from LDI officials and law enforcement about rising insurance-fraud referrals.
Representative Dickerson said the bill would allow the Department of Insurance to retain otherwise refundable assessed fee surplus to fund the department’s insurance fraud task…
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