Massachusetts S710 amends insurance policy laws to allow insurers to defend against fraud claims indefinitely.

Massachusetts S710 amends existing insurance policy laws to ensure that insurers can assert fraud as a defense against claims under any insurance policy, regardless of the time elapsed since the policy was issued. This applies to life, accident, and health insurance policies. The bill also allows for rescission based on fraudulent statements made with intent to deceive. Insurers must bring any action for rescission within three years of discovering the fraud. This change aims to prevent fraudulent claims and protect policy integrity.

Massachusetts S710 amends insurance policy laws to allow insurers to defend against fraud claims indefinitely.

Massachusetts S710 amends existing insurance policy laws to ensure that insurers can assert fraud as a defense against claims under any insurance policy, regardless of the time elapsed since the policy was issued. This applies to life, accident, and health insurance policies. The bill also allows for rescission based on fraudulent statements made with intent to deceive. Insurers must bring any action for rescission within three years of discovering the fraud. This change aims to prevent fraudulent claims and protect policy integrity.