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NY A04495
Bill
Status
2/16/2023
Primary Sponsor
Gary Pretlow
Click for details
AI Summary
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Allows any person (except those already covered under existing law) to report suspected insurance fraud to the attorney general, district attorney, or insurance frauds bureau.
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Entitles the reporting person to receive 40 percent of the proceeds from any resulting action if law enforcement commences prosecution based on the reported information.
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Requires the attorney general or district attorney to recommend the award amount to the court upon settlement, with the court determining the award based on the person's substantial contribution to the prosecution.
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Applies to all reports of fraudulent insurance transactions made on or after the effective date.
Legislative Description
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.
Last Action
referred to insurance
1/3/2024