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Assembly backs bill limiting insurer demands for personal/financial records in ordinary theft claims absent specific articulable grounds
Summary
The Assembly approved a consumer-protection measure restricting insurers from demanding extensive personal, financial or tax records while investigating ordinary theft claims unless there are specific, articulable circumstances of suspected fraud.
The Assembly passed legislation (rules report 2 03) that makes it an unfair claims settlement practice for insurers to demand broad personal, financial or tax records from insureds while investigating theft claims unless special articulable circumstances exist that are directly related to evidence of potential fraud.
Sponsor Assemblyman Dinowitz said the bill clarifies existing Department of Financial Services (DFS) regulation and…
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