N.H. Insurance Dept. Issues Bulletin Regarding the Reporting of Suspected Cases of Insurance Fraud

CONCORD, New Hampshire, July 7 -- The New Hampshire Department of Insurance issued the following news release:

Recently, the New Hampshire Insurance Department (NHID) has become aware of suspected cases of insurance fraud that licensees did not refer to the department's Fraud Unit. Pursuant to NH RSA 417:28, all licensed insurers and producers in New Hampshire must report to NHID all suspected instances of insurance fraud or insurancerelated criminal activity.

This violation of the law is not acceptable and hinders the NHID's mission to protect New Hampshire consumers. Licensees that fail to comply are subject to administrative action and may be fined and/or barred from conducting insurance business in New Hampshire.

"Insurance companies and agents have an affirmative duty to disclose and report insurance fraud in New Hampshire," said Christopher Nicolopoulos, Commissioner of the New Hampshire Insurance Department. "Insurance fraud is not a victimless crime - fraud hurts everyone by driving up costs for all consumers and undermining confidence in the marketplace." All companies, agencies, and individuals subject to the rules and regulations of New Hampshire's insurance laws should ensure they have established policies and trained personnel to fully comply with RSA 417:28, including its response timeframe.

"Insurance fraud is a serious crime, and New Hampshire prosecutes cases of fraud over $1,000 as felonies," said Brendhan Harris, Fraud Investigator-In-Charge at the NHID. "Working together with the help of our dedicated prosecutors, we can send a message to fraudsters letting them know we have zero tolerance for insurance fraud in New Hampshire."

The complete bulletin, Docket Number INS 22-039-AB, is located at: https://www.nh.gov/insurance/media/bulletins/2022/documents/ins-22-039-ab-www.pdf.

Anyone seeking to report insurance fraud to NHID may use the form on NHID's website, located at: https://business.nh.gov/NCharge/Insurance/default.asp?form_name=FraudReferral.