Insurers, Agents Must Report Suspected Fraud or Lose License, Commissioner Says

With payroll fraud and employee misclassification on the rise, the West Virginia insurance commissioner is reminding insurers and agents that they are required to report suspected fraud. Failure to do so could result in suspension or revocation of the insurance firm's license, Commissioner James Dodrill said in a letter to all insurers in the state. A state law passed in 2012 requires the reporting, and the commission provides a form to facilitate the process. Suspected fraud and other insurance-related criminal activity can also be reported using the National Association of Insuranc...