Fraud Reporting and Information for Insurers

Annual SIU Report for Life Settlement Providers

Pursuant to New York Insurance Law Section 411(e), life settlement providers are required to file an annual report (Annual SIU Report) with the Criminal Investigations Unit - Insurance Frauds Bureau describing their experience, performance, and cost effectiveness in implementing the Fraud Prevention Plan. The Annual SIU Report also requires information pertaining to the life settlement provider's public awareness program required by Section 411(b)(5). The Annual SIU Report and Public Awareness Questionnaire may be accessed below and must be completed and filed in original hard copy form no later than March 15th of each year.

Please send completed and signed Reports, along with the public awareness questionnaire and supporting public awareness attachments (if applicable), to:

  • Kathleen Grogan, Principal Insurance Examiner
    New York State Department of Financial Services
    Financial Fraud & Consumer Protection Division, Criminal Investigations Unit
    One State Street
    New York, NY 10004

Filing Fraud Prevention Plans and Annual SIU Reports

Insurers who write private or commercial auto insurance, workers’ compensation insurance, or individual, group, or blanket accident and health insurance, and who have 3,000 or more policies in force in those lines of business in the state of New York, and entities licensed Under Art. 44 of the Public Health Law with an enrolled population of 60,000 insureds or greater, unless licensed under §4403(a), (c), (d), (f), or §4408(a), must file a Fraud Prevention Plan and Annual SIU Report with the New York State Department of Financial Services. Fraud Prevention Plans and Annual SIU Report must be submitted electronically through the DFS portal.

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Data Calls

Insurers Writing Private Passenger Auto with 3,000 or More Policies in Effect

Misrepresentations of the Location Where Vehicles are Garaged or Driven

FAQs

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