Pennsylvania law mandates that insurers file antifraud plans and reports, with penalties for non-compliance or violations. It also ensures confidentiality of antifraud documents and requires reporting of suspected insurance fraud by licensed entities. Penalties can include civil fines up to $10,000 per violation.
Insurers may face penalties under the Insurance Company Law of 1921, including civil fines up to $10,000 per violation, especially if they do not make a good faith effort to comply.
No, antifraud plans and related reports are confidential and are not subject to public inspection.
Licensed insurers, their employees, agents, brokers, appraisers, and public adjusters must report suspected insurance fraud to law enforcement authorities.
Yes, licensed insurance agents and physical damage appraisers may choose to report suspected fraud through the insurer with which they have a contractual relationship.