Colorado adds fraud to prosecutors, investigators

The Colorado legislature has a bill a prosecutor and three new investigators to the Public Prosecution Office to fight against fraud insurance. Bill SB06-038, awaits the signature of the governor, and will be on 1 July 2006.

The bill increases the amount of money the division of insurance to draw insurers for the identification and prosecution of charges of insurance fraud. According to the indications of the bill, each insurance company regulated by the division to pay must be repaid is not an annual fee of $ 425 on or before 1 March each year. Beginning January 1, 2007, the prosecutor general, the annual report to the Joint Committee on Budget and posting on its Internet site a statistical report on the number of transfers, convictions, arrests, actions initiated and restitution, fines, costs and forfeitures get the investigation and the prosecution of insurance fraud.

“The bill is a recognition that the State wants to do more for the identification and prosecution of insurance fraud,” said Howard Goldblatt, director of Legislative Affairs for the Coalition Against Insurance Fraud in Washington , DC “The state said it needs additional means to fight against fraud, and it is a recognition of the industry as doing the right thing.”

Kelly Campbell, regional director for the Property Casualty Insurers Association of America’s office in Denver, agreed that the legislation is a positive step by the State to fight against fraud. “We support the legislation,” she said. “Insurance fraud is a concern to us and we must have sufficient funds for the identification and prosecution of those fraud. Investigation of the fight against fraud is essential, and something that we all pay. “

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