Iowa Insurance Fraud Laws
Created by FindLaw's team of legal writers and editors | Last reviewed June 20, 2016
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Obtaining insurance is a necessity for practically everything we do these days. From driving a car to owning a home, insurance allows people to sleep well at night knowing that they are covered in case a catastrophe occurs. However, there are many people who attempt to take advantage of the insurance that they have by filing untrue claims just to get their hands on the insurance money.
Iowa insurance fraud laws make it illegal for people to defraud an insurance company with these false claims. This is a quick summary of the insurance fraud laws in Iowa.
The Duties Of the Insurance Company Under Iowa Law
Iowa laws place duties on insurance companies to report suspected insurance fraud. The laws state that if an insurer believes that a claim or application for insurance coverage is being made that violates Iowa insurance fraud laws, the company must provide written notification to the bureau about the claim within sixty days of the receipt of such claim or application. The following table outlines the specifics of Iowa insurance fraud laws.
Iowa Code §507E.3: Fraudulent Submissions - Penalty
A person violates Iowa law if the person, with the intent to defraud an insurer does any of the following:
Under Iowa insurance fraud laws, a "statement" includes, but is not limited to, any notice, statement, proof of loss, bill of lading, receipt for payment, invoice, account, estimate of property damage, bill for services, diagnosis, prescription, hospital or physician record, X-ray, test result, or other evidence of loss, injury, or expense.
Iowa criminal laws state that a class "D" felon will be confined for up to five years, and will be fined at least $750 but not more than $7,500.
If you have been accused of violating an insurance fraud law and would like legal assistance, you can contact an Iowa criminal defense lawyer through FindLaw. Visit FindLaw's sections on insurance fraud and other fraud and financial crimes for more articles and information on this topic.
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