Maryland Insurance Administration Announces Changes to Annual Fraud Data Report
May 2, 2012
On March 29, 2012, the Maryland Insurance Administration (“MIA”) announced a revised format for the annual Fraud Data Report required of insurers under Section 27-803 and COMAR 31.04.15.06. The report must be filed with the MIA by March 31 of each year.
Previously, insurers were only asked to provide the number of suspected fraudulent claims. The form now requires that both the number of suspected false applications and suspected internal frauds be included as well.
To view the revised form, click here.
Should you have any questions or comments, please contact Colodny Fass.