8.__Reinsurance.__"Reinsurance" means a contract, binder of coverage, including a placement slip, or arrangement under which an insurer procures insurance for itself from another insurer as to all or part of an insurance risk of the originating insurer.

§7002. Insurance Fraud Division

1.__Division established.__The Insurance Fraud Division, referred to in this chapter as "the division," is established within the bureau.__The division shall work in coordination with other bureau sections and staff and other regulatory and law enforcement agencies to accomplish its duties.

2.__Duties.__The duties of the division are to:

A.__Initiate independent inquiries and conduct independent investigations when the division has cause to believe that a fraudulent insurance act, insurance deception or deceptive insurance practice may be or has been committed;

B.__Review reports or complaints of alleged fraudulent insurance activities, insurance deception and deceptive insurance practices from federal, state and local law enforcement and regulatory agencies, persons engaged in the business of insurance and the public to determine whether the reports or complaints require further investigation and to conduct these investigations;

C.__Conduct independent examinations of alleged fraudulent insurance acts and undertake independent studies to determine the extent of fraudulent insurance acts;

D.__Assist the superintendent in developing and implementing programs to prevent fraudulent insurance acts and abuse, deceptive insurance practices and insurance deception; and

E.__Assist the Attorney General in the prosecution and prevention of insurance fraud, deceptive insurance practices and insurance deception and prepare any reports regarding insurance fraud required by law.

3.__Authority.__The division has the authority to: