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 via email to the address shown below no later than March 15th of each year.
- Due: 03/15/2023, Annual SIU Report Form for Life Settlement Providers (PDF)
- Due: 03/15/2023, Annual Public Awareness Questionnaire for Life Settlement Providers With In-House Public Awareness Programs (PDF)
Please email completed and signed Reports, along with the public awareness questionnaire and supporting public awareness attachments (if applicable), to:
- Christine Backel, Financial Services Examiner 1
Email: [email protected]
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 Reports must be submitted electronically through the DFS portal.
- Fraud Prevention Plan Filing Guidelines for Insurers (PDF)
- Instructions for Using Portal to Submit Fraud Prevention Plans
- FAQs About Fraud Prevention Plans and Special Investigations Units
- Instructions for Completing and Filing Annual SIU Report
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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
Outside Industry Resources:
- Association of Certified Fraud Examiners
- Coalition Against Insurance Fraud
- America's Health Insurance Plans
- Insurance Information Institute
- Insurance Research Council
- National Health Care Anti-Fraud Association
- National Insurance Crime Bureau
- New York Alliance Against Insurance Fraud
- National Association of Insurance Commissioners