KNY LEG Fraudulent Insurance Acts

Published on: Mar 24, 2025

On Mar. 18, KNY LEG passed bill expanding fraudulent acts provision.

  • KNY LEG passed SB 24 re acts covered by fraudulent insurance acts provision.
  • Amended KNY INS 304.47-010 (definitions), KNY INS 304.47-020 (fraudulent acts).
  • Bill Provisions
  • Provisions modified the definition of statement, made certain technical amendments.
  • Expanded fraudulent insurance acts to include making any statement that misrepresents the scope of damages, including repairs, towing, storage of property.
  • Legislative History
  • On Feb. 11, 2025, bill introduced in Senate; on Feb. 18, 2025, bill passed in Senate.
  • On Mar. 5, 2025, bill was introduced in House; on Mar. 11, 2025, bill passed in House.
  • On Mar. 18, 2025, SB 24 was signed into law by the governor, assigned Acts Ch. 25.
  • Effectiveness
  • Effective 90 days after official end of session, expected end Mar. 28; so Jun. 26, 2025.
Regulators
KNY LEG
Entity Types
CNSM; Ins
Reference
Ch. 25, Bill SB24, 3/18/2025; Citation: *KNY INS* 304.47-010, 304.47-020;
Functions
Claims/Accelerated Benefits; Compliance; Legal; Operations
Countries
United States of America
Category
State
N/A
Products
Insurance; Insurance-Casualty; Insurance-Property
Rule Type
Final
Regions
Am
Rule Date
Mar 18, 2025
Effective Date
Jun 26, 2025
Rule ID
247677
Linked to
N/A
Reg. Last Update
Mar 18, 2025
Report Section
US Insurance