New York A06878 amends the insurance law to allow individuals to receive 40% of the proceeds from actions related to reported insurance fraud.

New York A06878 amends the insurance law by adding a new section that allows any person, excluding those described in a specific subsection, to report information about a fraudulent insurance transaction to the attorney general, a district attorney, or the insurance frauds bureau. If an action or claim is initiated based on this information, the reporting individual may be entitled to an award of 40% of the proceeds from the action.

New York A06878 amends the insurance law to allow individuals to receive 40% of the proceeds from actions related to reported insurance fraud.

New York A06878 amends the insurance law by adding a new section that allows any person, excluding those described in a specific subsection, to report information about a fraudulent insurance transaction to the attorney general, a district attorney, or the insurance frauds bureau. If an action or claim is initiated based on this information, the reporting individual may be entitled to an award of 40% of the proceeds from the action.