For suggestions on future CE topics , email the Department at kdoi . commissioner @ ks . •
FROM THE COMMISH
SESSION TWO : KNOW YOUR REGULATOR SERIES
A FOCUS ON HOW TO STOP INSURANCE FRAUD written by Commissioner Vicki Schmidt , Kansas Insurance Dept .
The second session of the Know Your Regulator series has concluded , and I want to again thank the entire team at KAIA for all their work in making this series possible . This second free continuing education session focused on insurance fraud and what the Department does to combat it . Insurance fraud affects us all .
With every fraudulent payment , companies incur losses which drive up rates for consumers . A few notable statistics about insurance fraud :
• According to the Coalition Against Insurance Fraud , insurance fraud is one of America ’ s largest crimes — at least $ 308.6B is stolen each year .
• The FBI estimates that insurance fraud costs the average U . S . family between $ 400 and $ 700 per year in the form of increased premiums .
• The Kansas Department of Insurance received 975 fraud referrals last year , of which nearly 46 % were related to auto insurance .
• Overview of the Rate and Form Process-- October 15 , 10:00 a . m . - 11:00 a . m .
Julie Holmes , Director of the Rate and Form Compliance Division will provide a broad overview while also covering any burning questions you may have about functions of the Department ’ s Rate and Form Division . She will walk attendees through the rate and form approval process , explain the laws and regulations governing them , and dive into hot topics on the Department ’ s regulatory role as it relates to current market trends .
You can register online at www . kaia . com / knowyourregulator
For suggestions on future CE topics , email the Department at kdoi . commissioner @ ks . •
The second of the Know Your Regulator series took place on June 25 . We had nearly 700 attendees who tuned in to hear John Eichkorn , the Department ’ s Director of Compliance , Enforcement , & Anti-Fraud give examples of cases and field many questions about the fight against insurance fraud . Agents can play a crucial role in helping stop fraud before it happens , and I hope that everyone who attended the continuing education session came away with a better understanding of how insurance fraud occurs and what you can do to help the Department stop it . With one session to go , if you have not already taken advantage of these continuing education opportunities to learn more about the work we do at the Department , you still have a chance ! This year ’ s final session is :
34 KANSAS INSURANCE AGENT & BROKER