Article: It's time for a federal ins. fraud statute. (column)

It's Time For A Federal Ins. Fraud Statute

It is one of the many ironies of life on Capitol Hill.

At the same time one congressional committee is questioning the adequacy of state regulation, several other committees in the Senate and House are considering reform of the Racketeer Influenced and Corrupt Organizations Act--a move that could severely curb a state regulator's authority to sue for insurance fraud in the case of insurer insolvencies.

If anything, Congress should be looking for ways to strengthen the tools regulators have available to prosecute insurance fraud.

Perhaps, RICO should be narrowed. There indeed have been ...

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