Section 27-802 – Reporting Suspected Insurance Fraud
(a) (1) An authorized insurer, its employees, fund producers, insurance producers, a viatical settlement provider, or a viatical settlement broker who in good faith has cause to believe that insurance fraud has been or is being committed shall report the suspected insurance fraud in writing to the Commissioner, the Fraud Division, or the appropriate federal, State, or […]
Section 27-803 – Insurance Antifraud Plan
(a) (1) Each authorized insurer that has in force policies or certificates of insurance in the State shall institute and maintain an insurance antifraud plan. (2) Within 30 days after instituting or modifying an antifraud plan, the authorized insurer shall notify the Commissioner in writing. (b) Each antifraud plan shall establish specific procedures to: (1) prevent insurance fraud, including: (i) internal […]
Section 27-804 – Antifraud Plans for Viatical Settlement Providers
(a) Each viatical settlement provider shall have in place an antifraud plan reasonably calculated to detect, prosecute, and prevent fraudulent viatical settlement acts. (b) Within 30 days after instituting or modifying an antifraud plan, the viatical settlement provider shall notify the Commissioner in writing. (c) Each antifraud plan shall include: (1) the use of fraud investigators; (2) a description of […]
Section 27-805 – Required Disclosure Statements
(a) In this section, “claim form” means any document supplied by an insurer to a claimant that a claimant is required to complete and submit in support of a claim for benefits. (b) (1) Except as provided in subsection (c) of this section, all applications for insurance and all claim forms, regardless of the form of transmission, shall […]
Section 27-806 – Penalty
The penalty for a violation of this subtitle is as provided in §§ 4–113 and 4–114 of this article.
Section 27-801 – Definitions
(a) In this subtitle the following words have the meanings indicated. (b) “Fraud Division” means the Insurance Fraud Division in the Administration. (c) “Insurance fraud” means: (1) a violation of Subtitle 4 of this title; (2) theft, as set out in §§ 7–101 through 7–104 of the Criminal Law Article: (i) from a person regulated under this article; or (ii) by a […]