Michigan HB4718 amends insurance law to require insurers to report suspected fraudulent insurance acts to the director.

Michigan HB4718 amends the Michigan Compiled Laws by adding a new section requiring insurers to report suspected fraudulent insurance acts to the director. This applies to situations where an insurer reasonably believes or knows a fraudulent act has occurred involving a Michigan policyholder or a claim for benefits. The director reviews these reports and may report the suspected act to relevant authorities. The bill also clarifies that insurers are not relieved of their obligations to report suspected violations of law to authorized agencies.

Michigan HB4718 amends insurance law to require insurers to report suspected fraudulent insurance acts to the director.

Michigan HB4718 amends the Michigan Compiled Laws by adding a new section requiring insurers to report suspected fraudulent insurance acts to the director. This applies to situations where an insurer reasonably believes or knows a fraudulent act has occurred involving a Michigan policyholder or a claim for benefits. The director reviews these reports and may report the suspected act to relevant authorities. The bill also clarifies that insurers are not relieved of their obligations to report suspected violations of law to authorized agencies.