Section 52-40(B) – of S. 421, Chapter 590, Laws 1998 B. All applications for insurance and all claim forms provided and required by an insurer or required by law as a condition of payment of a claim shall contain a statement, permanently affixed to, or included as a part of the application or claim form, that clearly states in substance the following: “It is a crime to knowingly provide false, incomplete or misleading information to an insurance company for the purpose of defrauding the company. Penalties include imprisonment, fines and denial of insurance benefits.” The lack of a statement required in this subsection does not constitute a defense in any criminal prosecution. The statement required by this subsection shall not be required on applications and forms relating to reinsurance.
Section 52-40(A) – of S. 421, Chapter 590, Laws 1998 A. If any insurer, any employee thereof, or any insurance professional has knowledge of, or has reason to believe that a violation of Section 18.2-178 will be, is being, or has been committed, that person shall furnish and disclose any information in his possession concerning the fraudulent act to the Department, (Department of State Police) subject to any legal privilege protecting such information.
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B. The Commission may, in addition to or in lieu of a penalty imposed under ¤ 38.2-218, place on probation, suspend, revoke or refuse to issue or renew any person’s license as a managing general agent for any one or more of the following causes: 4. Improperly withholding, misappropriating, or converting any moneys or properties received in the course of doing business;
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A. There shall be established within the Department of State Police, Bureau of Criminal Investigation, the Insurance Fraud Investigation Unit. The purposes of this unit shall be to: 1. Initiate independent inquiries and conduct independent investigations when the Department has reason to believe that insurance fraud may have been or is currently being committed, and to undertake studies to determine the extent of such insurance fraud. 2. Respond to notification or complaints alleging insurance fraud generated by federal, state and local police, other law-enforcement authorities, governmental agencies or units, and any other person. 3. Review notices and reports of insurance fraud; select the incidents of suspected fraud that, in its judgment, require further detailed investigation; and conduct the investigations. B. The Superintendent may appoint such agents as he may deem necessary to assist the Department in carrying out its powers and duties under this chapter.
A. Any insurer providing information to an authorized representative of the Department pursuant to ¤ 52-38 or pursuant to subdivision B 5 of ¤ 38.2-613 shall have the right to request relevant information and receive, within thirty days, the information requested. B. No cause of action in the nature of defamation, invasion of privacy, or negligence shall arise against any person furnishing information concerning any suspected, anticipated or completed criminal violation when the information is provided to or received from the Department, the National Association of Insurance Commissioners, another insurer, any federal or state governmental entity established for the purposes of detecting and preventing insurance fraud, or the National Insurance Crime Bureau. C. No insurer, its officers or employees, insurance professional or any other person shall be subject to such cause of action for cooperating with, or furnishing evidence or information regarding any suspected criminal violation to the Department. D. This section shall not provide immunity for those disclosing or furnishing false information with malice or willful intent to injure any person. E. This section does not abrogate or modify in any way common law or statutory privilege or immunity heretofore enjoyed by any person or entity, nor does it authorize the Department to make public insurance company records that are proprietary in nature.
A. If any person obtain, by any false pretense or token, from any person, with intent to defraud, money, a gift certificate or other property that may be the subject of larceny, he shall be deemed guilty of larceny thereof; or if he obtain, by any false pretense or token, with such intent, the signature of any person to a writing, the false making whereof would be forgery, he shall be guilty of a Class 4 felony. B. Venue for the trial of any person charged with an offense under this section may be in the county or city in which (i) any act was performed in furtherance of the offense, or (ii) the person charged with the offense resided at the time of the offense.
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D. 1. The Commission may require a person to make restitution in the amount of the direct actual financial loss: a. For charging a rate in excess of that provided by statute or by the rates filed with the Commission by the insurer; b. For charging a premium that is determined by the Commission to be unfairly discriminatory, such restitution being limited to a period of one year from the date of determination; c. For failing to pay amounts explicitly required by the terms of the insurance contract where no aspect of the claim is disputed by the insurer; and d. For improperly withholding, misappropriating, or converting any money or property received in the course of doing business.