Legislative Updates & Audit Compliance

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Legislative Updates

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More than 40 of the 50 states currently require that suspect claims be reported to law enforcement or other authorities. Many have specific regulations and requirements for training, fraud plans and annual reporting. Substantial fines and penalties may result if your company is not in compliance.

Never worry about being out of compliance with state SIU regulations again. Llorente SIU understands the importance of staying on top of all legislative and regulatory changes that affect your fight against fraud. Once you select us as your Contract SIU provider, we keep your company updated and your employees following the proper anti-fraud procedures from state to state. To receive important updates concerning changes to both legislation and regulation relating to insurance fraud in all 50 states, use the blue form above to sign up for our Legislative Updates.

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Legislative updates are critical to staying on top of changes that affect your company's fight against fraud. You never have to worry about being out of compliance with state regulations once you select Llorente SIU as your Contract SIU provider. We understand the importance of timely compliance with regulatory and legislative requirements, and have the resources to keep your company informed.

In 2007, The Coalition Against Insurance Fraud published a 5-year study collecting statistical data for state insurance fraud bureau activities. Some states are well funded, well staffed and well organized in the fight against insurance fraud, while others are considerably less efficient. The results of the Coalition's report shows which states have the best fraud-fighting track records based on a number of important factors including:

  • Amount of state funding to fight insurance fraud
  • State's annual budget for fighting fraud
  • Staffing levels for insurance fraud divisions
  • Number of insurance fraud referrals received
  • Number of successful insurance fraud prosecutions
  • Amount of money ordered in restitution of insurance fraud

Since the success rate for insurance fraud prosecution varies from state to state, it is important to have the latest information when structuring your company's Special Investigation Unit. We continually monitor changes to anti-fraud legislation and regulations in all 50 states as a service to our clients in the insurance industry. To receive important updates concerning changes to both legislation and regulation relating to insurance fraud in all 50 states, be sure to register for our Legislative Updates.

NOTE: Legislative Updates are provided for informational purposes only, and should not be relied upon as legal advice. Each situation is unique and may require the advice of counsel. Please consult with your company's attorney in regards to how legislative and regulatory changes impact your company's fraud prevention plans.