Fraud Reporting for Insurers
Missouri Fraud Reporting Requirements For Insurers
Sections 375.992, RSMo
Sections 375.993, RSMo
Sections 375.994, RSMo
Missouri law requires reporting within 60 days of when the company has notice that fraud has occurred on a claim or non-claim matter, per Section 375.992 RSMo.
The statute does not require a company to file a fraud plan with the department nor does it require a company to establish a Special Investigation Unit.
The statute does not authorize the department to prosecute cases. Department authority is limited to referring reports that do not involve insurance licensees to the appropriate agency, be it law enforcement or other licensing authority.