Insurance stakeholders back mandatory fraud reporting; committee to draft NCOIL‑based bill (with modifications)
The National Insurance Crime Bureau and insurance stakeholders urged the committee to adopt a modern insurance‑fraud reporting law; industry witnesses supported the model act but asked Wyoming to tailor or remove a requirement that the Department create and run an anti‑fraud unit.
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The committee considered an updated insurance‑fraud model act (NCOIL/NAIC‑style) calling for mandatory fraud reporting. Marian Smith of the National Insurance Crime Bureau said the model act’s updated definitions (including inflated billing) and civil‑immunity provisions address shortcomings of prior proposals and would improve detection and information sharing.
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