Requires DOBI to publish and maintain Internet webpage containing certain information on most wanted persons list for certain insurance crimes, including insurance crimes related to Super Storm Sandy.
Impact
The bill mandates that the DOBI publishes information about wanted persons on its website, thereby making it easily accessible to the public. This move is designed to help generate leads and provide educational material on insurance fraud while also potentially assisting in the recovery processes related to insurance claims from Superstorm Sandy. Additionally, it calls for the department to implement necessary rules and regulations defining 'insurance crime' and the criteria for publication of personal information regarding wanted individuals.
Summary
Assembly Bill A2609 seeks to enhance public awareness regarding individuals wanted for committing insurance crimes, particularly those crimes connected to the devastating effects of Superstorm Sandy. Under this legislation, the Department of Banking and Insurance (DOBI) is required to create and maintain a dedicated webpage listing persons subject to arrest warrants or charges related to such crimes. This initiative is a response to the significant financial impact of insurance fraud, which costs the industry an estimated $80 billion annually.
Contention
One notable aspect of the bill hinges on the balance between public safety and privacy concerns. While proponents argue that making this information public is essential for combating insurance fraud and supporting the recovery from Superstorm Sandy, critics might raise ethical questions regarding the potential stigmatization of those listed. The specificity of crimes related to Superstorm Sandy could evoke conversations around the adequacy of existing fraud prevention measures and the need for legislative attention towards more comprehensive systemic reforms in the insurance sector.
Additional_considerations
Another consideration for this bill is its implementation timeline and the administrative capacity of the DOBI to manage a new webpage while ensuring the accuracy and integrity of the information presented. The bill states that it will take effect 90 days after enactment, allowing time for necessary preparatory actions to ensure compliance with the new requirements.