Amended Bill Would Bring Agents, Brokers Into Fraud Fight

Insurance agents and brokers would need training on insurance fraud to get a license in California and would be required to report suspected fraud, under a recently amended bill. Amendments the Senate Insurance Committee made to SB 1242 would also modify requirements for insurance companies to report suspected fraud to the Department of Insurance. Current law requires a carrier that “reasonably believes or knows that a fraudulent claim is being made” to report it within 60 days. The amended bill would require an insurer that has determined, “after the completion of the ins...