SCC: Preventing Financial Exploitation & Abuse
A clause in Regulation 187
While not unique in inference, a clause in Regulation 187 may be the first attempt by New York’s Department of Financial Services to explicitly establish requirements for the insurance industry in taking steps to prevent financial exploitation and abuse. ‘Red Flag’ detection and training may be at the forefront to identify and prevent such abuse.
THIS LESSON IS PART OF THE SCC MEMBERSHIP BUNDLE.