Washington State Legislation Will Help Protect Insurance Companies fromScams

April 10, 2000 Washington State Legislation Will Help Protect Insurance Companies from Scams A bill passed by the Washington State legislature and signed by the Governor on March 30, 2000 is designed to help prevent scam artists from plundering the assets of insurance companies. The legislation, HB 2848, was inspired by the case of Martin Frankel, who took over seven southern insurance companies, then escaped to Europe with millions of dollars after gutting the companies' assets, most of them negotiable securities. Frankel was eventually captured, but millions of dollars still have not been recovered. The new state law essentially makes . . .