Assembly Bill A10698

2011-2012 Legislative Session

Enacts provisions to reduce the incidence of motor vehicle insurance fraud

download bill text pdf

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Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2011-A10698 (ACTIVE) - Details

See Senate Version of this Bill:
S4847
Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Amd §§401, 405 & 2133, Ins L; amd §§170.10, 170.15, 176.05 & 176.15, add §175.50, Pen L; add §201-a, amd §401 & 502, V & T L
Versions Introduced in Other Legislative Sessions:
2013-2014: A3140, A3747, A8915, S2373
2015-2016: A3396, S1146
2017-2018: A7481, S3665

2011-A10698 (ACTIVE) - Summary

Grants the superintendent of financial services authority to investigate fraudulent activities, such as motor vehicle operators who drive with no insurance coverage, and those who misrepresent their principal place of residence or where their motor vehicle is principally garaged and operated; authorizes such superintendent to accept reports of suspected fraudulent insurance actions; requires insurance companies and self-insurers to report incidents of insurance fraud to the department of financial services; includes within the class D felony of forgery in the second degree, the forgery of a certificate of insurance or an insurance identification card

2011-A10698 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  10698

                          I N  A S S E M B L Y

                              June 15, 2012
                               ___________

Introduced  by  COMMITTEE ON RULES -- (at request of M. of A. Gibson) --
  read once and referred to the Committee on Insurance

AN ACT to amend the insurance law, the penal law, and  the  vehicle  and
  traffic law, in relation to insurance fraud

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Section 401 of the insurance law is amended by adding a new
subsection (d) to read as follows:
  (D) THE SUPERINTENDENT SHALL HAVE BROAD  AUTHORITY  PURSUANT  TO  THIS
CHAPTER  TO INVESTIGATE FRAUDULENT ACTIVITIES WITH REGARD TO MOTOR VEHI-
CLE DRIVERS THAT OPERATE AUTOMOBILES WITH  NO  INSURANCE  COVERAGE,  AND
MOTOR  VEHICLE  INSUREDS  WHO  MISREPRESENT  THE  PRINCIPAL  PLACE WHERE
INSURED MOTOR VEHICLES ARE GARAGED AND OPERATED. OPERATING  MOTOR  VEHI-
CLES WITHOUT PROPER INSURANCE IN VIOLATION OF ARTICLE SIX OF THE VEHICLE
AND  TRAFFIC  LAW  IS A SIGNIFICANT DANGER TO THE PUBLIC BECAUSE DRIVERS
ARE UNABLE TO COMPENSATE INDIVIDUALS FOR PERSONAL  INJURIES,  DEATH  AND
PROPERTY  DAMAGE  THEY  INFLICT UPON OTHERS.  FURTHERMORE, MOTOR VEHICLE
INSUREDS WHO MISREPRESENT THE PRINCIPAL PLACE WHERE  SUCH  VEHICLES  ARE
GARAGED  AND  OPERATED  IMPROPERLY  SHIFT  THEIR HIGH LIABILITY EXPOSURE
COSTS TO OTHER MOTOR VEHICLE INSUREDS THAT DO NOT FACE SUCH HIGH LIABIL-
ITY RISK AND INSURANCE PREMIUM COSTS.
  S 2. Subsection (a) of section 405 of the insurance law, as amended by
section 7 of part A of chapter 62 of the laws of  2011,  is  amended  to
read as follows:
  (a)  Any  person  licensed or registered pursuant to the provisions of
this chapter, and any person engaged in the  business  of  insurance  or
life  settlement  in this state who is exempted from compliance with the
licensing requirements of this chapter, including  the  state  insurance
fund  of  this state, who has reason to believe that an insurance trans-
action or life settlement act may be fraudulent, or has knowledge that a
fraudulent insurance transaction or fraudulent life  settlement  act  is
about  to take place, or has taken place shall, within thirty days after
determination by such person that the transaction appears to be  fraudu-
lent, send to the superintendent on a form prescribed by the superinten-

 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
              

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