State Codes and Statutes

Statutes > New-york > Isc > Article-4 > 403

§  403.  Prohibitions. (a) In this article, "fraudulent insurance act"  means an insurance fraud as defined in section 176.05 of the penal  law;  and the terms "personal insurance" and "commercial insurance" shall have  the same meaning ascribed to them by section 176.00 of such law.    (b) For the purpose of section one hundred nine of this chapter, it is  a  violation  of  this  chapter for any individual, firm, association or  corporation subject to the  provisions  of  this  chapter  to  commit  a  fraudulent insurance act or a fraudulent life settlement act.    (c) In addition to any criminal liability arising under the provisions  of  this  section, the superintendent shall be empowered to levy a civil  penalty not exceeding five thousand dollars and the amount of the  claim  for  each  violation  upon any person, including those persons and their  employees licensed pursuant to this chapter, who is found to  have:  (i)  committed  a fraudulent insurance act, fraudulent life settlement act or  otherwise violates the provisions of this section; or (ii) knowingly and  with intent to defraud files, makes, or assists, solicits  or  conspires  with  another  to  file  or make an application for a premium reduction,  pursuant to  subsection  (a)  of  section  two  thousand  three  hundred  thirty-six  of this chapter, containing any materially false information  or which, for the purpose of misleading, conceals information concerning  any fact material thereto.    (d) All applications for commercial insurance,  individual,  group  or  blanket  accident  and  health  insurance and all claim forms, except as  provided for in subsection (e) of this section, shall contain  a  notice  in  a  form  approved  by  the  superintendent  that  clearly  states in  substance the following:    "Any person who knowingly and with intent  to  defraud  any  insurance  company  or other person files an application for insurance or statement  of claim containing any materially false information,  or  conceals  for  the  purpose  of  misleading,  information  concerning any fact material  thereto, commits a fraudulent insurance act, which is a crime, and shall  also be subject to a civil penalty not to exceed five  thousand  dollars  and the stated value of the claim for each such violation."    (e)  All  applications  for  automobile  insurance and all claim forms  shall contain a notice, in a form approved by the  superintendent,  that  clearly states in substance the following:    "Any  person who knowingly makes or knowingly assists, abets, solicits  or conspires  with  another  to  make  a  false  report  of  the  theft,  destruction,  damage  or  conversion  of  any  motor  vehicle  to  a law  enforcement agency, the department of motor  vehicles  or  an  insurance  company, commits a fraudulent insurance act, which is a crime, and shall  also  be  subject to a civil penalty not to exceed five thousand dollars  and the value of the subject motor vehicle  or  stated  claim  for  each  violation."    (f) In this article, "fraudulent life settlement act" means a fraud as  defined in section 176.40 of the penal law.

State Codes and Statutes

Statutes > New-york > Isc > Article-4 > 403

§  403.  Prohibitions. (a) In this article, "fraudulent insurance act"  means an insurance fraud as defined in section 176.05 of the penal  law;  and the terms "personal insurance" and "commercial insurance" shall have  the same meaning ascribed to them by section 176.00 of such law.    (b) For the purpose of section one hundred nine of this chapter, it is  a  violation  of  this  chapter for any individual, firm, association or  corporation subject to the  provisions  of  this  chapter  to  commit  a  fraudulent insurance act or a fraudulent life settlement act.    (c) In addition to any criminal liability arising under the provisions  of  this  section, the superintendent shall be empowered to levy a civil  penalty not exceeding five thousand dollars and the amount of the  claim  for  each  violation  upon any person, including those persons and their  employees licensed pursuant to this chapter, who is found to  have:  (i)  committed  a fraudulent insurance act, fraudulent life settlement act or  otherwise violates the provisions of this section; or (ii) knowingly and  with intent to defraud files, makes, or assists, solicits  or  conspires  with  another  to  file  or make an application for a premium reduction,  pursuant to  subsection  (a)  of  section  two  thousand  three  hundred  thirty-six  of this chapter, containing any materially false information  or which, for the purpose of misleading, conceals information concerning  any fact material thereto.    (d) All applications for commercial insurance,  individual,  group  or  blanket  accident  and  health  insurance and all claim forms, except as  provided for in subsection (e) of this section, shall contain  a  notice  in  a  form  approved  by  the  superintendent  that  clearly  states in  substance the following:    "Any person who knowingly and with intent  to  defraud  any  insurance  company  or other person files an application for insurance or statement  of claim containing any materially false information,  or  conceals  for  the  purpose  of  misleading,  information  concerning any fact material  thereto, commits a fraudulent insurance act, which is a crime, and shall  also be subject to a civil penalty not to exceed five  thousand  dollars  and the stated value of the claim for each such violation."    (e)  All  applications  for  automobile  insurance and all claim forms  shall contain a notice, in a form approved by the  superintendent,  that  clearly states in substance the following:    "Any  person who knowingly makes or knowingly assists, abets, solicits  or conspires  with  another  to  make  a  false  report  of  the  theft,  destruction,  damage  or  conversion  of  any  motor  vehicle  to  a law  enforcement agency, the department of motor  vehicles  or  an  insurance  company, commits a fraudulent insurance act, which is a crime, and shall  also  be  subject to a civil penalty not to exceed five thousand dollars  and the value of the subject motor vehicle  or  stated  claim  for  each  violation."    (f) In this article, "fraudulent life settlement act" means a fraud as  defined in section 176.40 of the penal law.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Isc > Article-4 > 403

§  403.  Prohibitions. (a) In this article, "fraudulent insurance act"  means an insurance fraud as defined in section 176.05 of the penal  law;  and the terms "personal insurance" and "commercial insurance" shall have  the same meaning ascribed to them by section 176.00 of such law.    (b) For the purpose of section one hundred nine of this chapter, it is  a  violation  of  this  chapter for any individual, firm, association or  corporation subject to the  provisions  of  this  chapter  to  commit  a  fraudulent insurance act or a fraudulent life settlement act.    (c) In addition to any criminal liability arising under the provisions  of  this  section, the superintendent shall be empowered to levy a civil  penalty not exceeding five thousand dollars and the amount of the  claim  for  each  violation  upon any person, including those persons and their  employees licensed pursuant to this chapter, who is found to  have:  (i)  committed  a fraudulent insurance act, fraudulent life settlement act or  otherwise violates the provisions of this section; or (ii) knowingly and  with intent to defraud files, makes, or assists, solicits  or  conspires  with  another  to  file  or make an application for a premium reduction,  pursuant to  subsection  (a)  of  section  two  thousand  three  hundred  thirty-six  of this chapter, containing any materially false information  or which, for the purpose of misleading, conceals information concerning  any fact material thereto.    (d) All applications for commercial insurance,  individual,  group  or  blanket  accident  and  health  insurance and all claim forms, except as  provided for in subsection (e) of this section, shall contain  a  notice  in  a  form  approved  by  the  superintendent  that  clearly  states in  substance the following:    "Any person who knowingly and with intent  to  defraud  any  insurance  company  or other person files an application for insurance or statement  of claim containing any materially false information,  or  conceals  for  the  purpose  of  misleading,  information  concerning any fact material  thereto, commits a fraudulent insurance act, which is a crime, and shall  also be subject to a civil penalty not to exceed five  thousand  dollars  and the stated value of the claim for each such violation."    (e)  All  applications  for  automobile  insurance and all claim forms  shall contain a notice, in a form approved by the  superintendent,  that  clearly states in substance the following:    "Any  person who knowingly makes or knowingly assists, abets, solicits  or conspires  with  another  to  make  a  false  report  of  the  theft,  destruction,  damage  or  conversion  of  any  motor  vehicle  to  a law  enforcement agency, the department of motor  vehicles  or  an  insurance  company, commits a fraudulent insurance act, which is a crime, and shall  also  be  subject to a civil penalty not to exceed five thousand dollars  and the value of the subject motor vehicle  or  stated  claim  for  each  violation."    (f) In this article, "fraudulent life settlement act" means a fraud as  defined in section 176.40 of the penal law.