CBIC FRAUD REPORT

February 2, 2004

Fraud Report is a weekly report of an example of fraud.
 

STATE OF NEW YORK INSURANCE FRAUDS

PREVENTION ACT


Photo of Superintendent Gregory V. Serio
Superintendent Gregory V. Serio

 


2003 was a successful year for our anti-fraud initiatives and, in turn, a terrible year for those who commit insurance fraud.

Our frauds investigators are better trained and better positioned to combat fraud than ever before.

The 811 arrests in 2003 topped the previous year’s level by 15%.  

Individuals who feel that they are above the law, and can steal from the insurance system should take notice. New York State will investigate you, arrest you and prosecute you. The crime of insurance fraud, motivated by greed, hurts the honest consumer in the form of higher insurance rates.  This will not be tolerated in New York State.
 



 

 


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CBIC is an "A" rated property and casualty insurance company, licensed to do business in all 50 states, and on the U. S. Treasury approved list for Federal bonds. 

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