This column looks at insurance fraud and how law enforcement and regulatory authorities are dealing with it.
Thirteen people from eight counties have been arrested on charges they cheated New York’s workers’ compensation system, working side jobs while collecting benefits for injuries they purportedly left them physically unable to work. The arrests followed investigations by the New York State Insurance Department’s Frauds Bureau, the New York State Insurance Fund, along with investigators […]
Two new regulations to combat misleading practices in the sales of annuities and life insurance to senior citizens and other consumers were introduced by Insurance Superintendent James J. Wrynn. The two emergency regulations that have been put in place by the New York State Insurance Department: • Require that only a suitable annuity, based on […]
The fraud investigation of Rosa Rivera, 66, of the Bronx began when the New York State Insurance Fund learned that Ms. Rivera had been charged by federal authorities with filing false tax returns for clients of her tax preparation service. A closer look revealed that Rosa Rivera had been working as a self-employed tax preparer […]
New York, N.Y.—Three Citigroup-affiliated insurance agencies have paid a $2,000,000 fine to New York to resolve insurance law violations committed from 2003 to 2007. An Insurance Department examination of Citicorp Insurance Agency, Inc., Citicorp Investment Services, and SBHU Life Agency, Inc., found violations of the Insurance Law and Department regulations with regard to certain sales […]
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