Relates to increasing penalties for insurance fraud, mandating investigations, and enhancing accountability for state agencies and offices responsible for insurance fraud prevention.
Provides that any person who provides information to the attorney general, a district attorney or the insurance frauds bureau concerning a fraudulent insurance transaction or with information about a fraudulent insurance transaction that is about to take place may be entitled to an award of forty percent of the action or claim relating to such fraudulent action.
Enacts the New York automobile insurance fraud and premium reduction act; provides that this act is aimed at reducing insurance fraud and thus lowering the cost of insurance premiums; provides a provision for compensation to a person that reports insurance fraud to the authorities; further provides that this act also increases the penalty for insurance fraud; appropriates $3,100,000 therefor.
Authorizes the investigation of fraudulent activities with regard to individuals operating motor vehicles without insurance; increases the civil penalty for forging insurance documents; creates the crime of offering a false application for motor vehicle insurance or registration.
Authorizes the investigation of fraudulent activities with regard to individuals operating motor vehicles without insurance; increases the civil penalty for forging insurance documents; creates the crime of offering a false application for motor vehicle insurance or registration.
Prohibits the recording of conveyances suspected of being fraudulent; requires the clerk or registrar to conduct an investigation into transactions suspected of being fraudulent and to report such investigations to the local law enforcement or sheriff's office.
Prohibits the recording of conveyances suspected of being fraudulent; requires the clerk or registrar to conduct an investigation into transactions suspected of being fraudulent and to report such investigations to the local law enforcement or sheriff's office.