§ 2404 — Power of superintendent

New York § 2404

• Jurisdiction: New York
• Law ISC: Insurance
• Art. 24: Unfair Methods of Competition and Unfair and Deceptive Acts and Practices

Text

§ 2404. Power of superintendent. The superintendent is empowered to\nexamine and investigate into the affairs of any person in order to\ndetermine whether the person has violated or is violating section two\nthousand four hundred three of this article. In the event any person\ndoes not provide a good faith response to a request for information from\nthe superintendent, within a time period specified by the superintendent\nof not less than fifteen business days, as part of an examination or\ninvestigation initiated by the superintendent pursuant to this section\nrelating to accident insurance, health insurance, accident and health\ninsurance or health maintenance organization coverage, the\nsuperintendent is authorized, after notice and hearing, to levy a civil\npenalty against such person in an amount not to exceed five hundred\ndollars per day for each day beyond the date specified by the\nsuperintendent for response, but in no event shall such penalty exceed\nten thousand dollars. In the event the superintendent levies five\nseparate civil penalties against any one person within five years for\nfailure to comply with this section, the superintendent is authorized,\nafter notice and hearing, to levy an additional civil penalty against\nsuch person in an amount not to exceed fifty thousand dollars. The\nsuperintendent is also authorized to levy additional civil penalties not\nto exceed fifty thousand dollars, after notice and hearing, against such\nperson for every five subsequent violations of this section within a\nfive year period. Any person licensed pursuant to article twenty-one of\nthis chapter may surrender such license in lieu of payment of any civil\npenalty imposed by the superintendent pursuant to this section.\n