§ 27-804. Insurance antifraud plan requirements for viatical settlement providers
West's Annotated Code of MarylandInsurance
MD Code, Insurance, § 27-804
§ 27-804. Insurance antifraud plan requirements for viatical settlement providers
(a) Each viatical settlement provider shall have in place an antifraud plan reasonably calculated to detect, prosecute, and prevent fraudulent viatical settlement acts.
(b) Within 30 days after instituting or modifying an antifraud plan, the viatical settlement provider shall notify the Commissioner in writing.
(c) Each antifraud plan shall include:
(5) a description or chart outlining the organizational arrangement of the antifraud personnel who are responsible for the investigation and reporting of possible fraudulent viatical settlement acts and investigating unresolved material inconsistencies between medical records and insurance applications.
(d) An antifraud plan submitted to the Commissioner shall be privileged and confidential and shall not be a public record and shall not be subject to discovery or subpoena in a civil or criminal action.
(e)(1) Each viatical settlement provider shall file its antifraud plan with the Commissioner.
(f)(1) If the Commissioner finds that an antifraud plan does not comply with the requirements of this section, the Commissioner shall disapprove the antifraud plan and send a notice of disapproval, including the reasons for disapproval, to the viatical settlement provider.
(g) It is a violation of this subtitle if the Commissioner finds that a viatical settlement provider has failed to:
Credits
Added by Acts 2004, c. 275, § 1, eff. Oct. 1, 2004.
MD Code, Insurance, § 27-804, MD INSURANCE § 27-804
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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