What is the insurance fraud statute of limitations?

Have you committed insurance fraud? If so, you may be wondering what the statute of limitations is for insurance fraud. One of the consequences of insurance fraud is being listed in internal and external fraud registries. One such registry is the database maintained by the CIS Foundation. CIS stands for Central Information System. The CIS Foundation not only registers insurance fraudsters but also defaulters and individuals with a criminal record. To warn other insurers, your personal data will be recorded if you are caught committing insurance fraud. When assessing an insurance application, an insurer will always check the database to see if you have a CIS record. How long a CIS record remains on file depends on the type of report. We’ll tell you what the statute of limitations is for insurance fraud.

Insurance fraud statute of limitations

Insurers take insurance fraud very seriously. Committing insurance fraud undermines the insurer’s trust. Furthermore, individuals who have committed fraud pose a significant risk to insurance companies. A record of insurance fraud therefore remains in the CIS database for the longest period of time. The statute of limitations for insurance fraud is approximately 8 years. During these 8 years, the report is visible to every affiliated insurer.

Would you like to take out a new insurance policy during these 8 years? If so, you’ll find that it’s not that easy. With a record of insurance fraud, there’s a good chance that every standard insurance company will reject your application. You simply pose too great a risk. Your only option is then to turn to De Vereende. De Vereende was established specifically to insure special risks.