Colorado House Bill Aims To Increase Insurance Fraud Fighting Fund

The Colorado House has passed a bill to increase funding to help fight insurance fund by surcharging insurance companies. Insurers currently are charged $425 annually, and House Bill 1385 that amount to $561.

Revenue from this insurance fraud fee would be deposited in the Division’s newly created insurance fraud cash fund, and replaces the fixed insurance fraud fee, for the attorney general to direct toward investigations and prosecutions. The bill now is before the Senate for review.