Insurance fraud; insurance application fraud
Sec. 4.5. (a) A person who, knowingly and with intent to defraud:
(1) makes, utters, presents, or causes to be presented to an
insurer or an insurance claimant, a claim statement that contains
false, incomplete, or misleading information concerning the
claim;
(2) presents, causes to be presented, or prepares with knowledge
or belief that it will be presented to or by an insurer, an oral, a
written, or an electronic statement that the person knows to
contain materially false information as part of, in support of, or
concerning a fact that is material to:
(A) the rating of an insurance policy;
(B) a claim for payment or benefit under an insurance
policy;
(C) premiums paid on an insurance policy;
(D) payments made in accordance with the terms of an
insurance policy;
(E) an application for a certificate of authority;
(F) the financial condition of an insurer; or
(G) the acquisition of an insurer;
or conceals any information concerning a subject set forth in
clauses (A) through (G);
(3) solicits or accepts new or renewal insurance risks by or for
an insolvent insurer or other entity regulated under IC 27;
(4) removes:
(A) the assets;
(B) the record of assets, transactions, and affairs; or
(C) a material part of the assets or the record of assets,
transactions, and affairs;
of an insurer or another entity regulated under IC 27, from the
home office, other place of business, or place of safekeeping of
the insurer or other regulated entity, or conceals or attempts to
conceal from the department of insurance assets or records
referred to in clauses (A) through (B); or
(5) diverts funds of an insurer or another person in connection
with:
(A) the transaction of insurance or reinsurance;
(B) the conduct of business activities by an insurer or
another entity regulated under IC 27; or
(C) the formation, acquisition, or dissolution of an insurer or
another entity regulated under IC 27;
commits insurance fraud. Except as provided in subsection (b),
insurance fraud is a Class D felony.
(b) An offense described in subsection (a) is a Class C felony if:
(1) the person who commits the offense has a prior unrelated
conviction under this section; or
(2) the:
(A) value of property, services, or other benefits obtained or
attempted to be obtained by the person as a result of the
offense; or
(B) economic loss suffered by another person as a result of
the offense;
is at least two thousand five hundred dollars ($2,500).
(c) A person who knowingly and with intent to defraud makes a
material misstatement in support of an application for the issuance
of an insurance policy commits insurance application fraud, a Class
A misdemeanor.
As added by P.L.181-2005, SEC.7.
Last modified: May 24, 2006