N.Y. Insurance Law § 401: Title; legislative declaration and purpose

§ 401. Title; legislative declaration and purpose. This article shall

be known and may be cited as the "insurance frauds prevention act".

(a) The legislature finds and declares that the business of insurance

directly and indirectly affects all sectors of the public, business and

government. It further finds that the business of insurance, including

organization and licensing, the issuance of policies, and the adjustment

and payment of claims and losses, involve many transactions which have

potential for abuse and illegal activities.

(b) Arson for insurance fraud is a particularly damaging crime against

society, destroying lives, property and neighborhoods. Insurance losses

resulting from arson are reflected in higher premiums charged to

residents of this state.

(c) This article establishes a framework within which the

superintendent and the department can more effectively assist in the

elimination of arson for insurance fraud. That increased capacity,

together with a more effective monitoring of fire loss claims and

payments by the insurance industry through centralized reporting and

oversight, is intended to make it more difficult to perpetrate the crime

of insurance fraud by arson.