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Committee approves bill requiring insurers and related parties to report suspected fraud
Summary
The Corporations Committee advanced a bill requiring persons in the business of insurance to report suspected fraud to the Wyoming Department of Insurance and extended civil‑immunity protections for reporters; the panel adopted Kansas’ fraud definition and passed the measure as amended.
The Corporations, Elections & Political Subdivisions Committee voted to pass a bill requiring persons in the business of insurance to report suspected insurance fraud to the Wyoming Department of Insurance and to cooperate with investigations.
The measure, presented by legislative staffer Josh Anderson, defines insurance fraud largely using language drawn from national guidance and requires reporting "in the manner prescribed by rule" within 60 days. Anderson…
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