NY Penal Law § 176.10: Insurance Fraud In The Fifth Degree

by ECL Writer
New York Insurance Fraud Frequently Asked Questions

White-collar crime known as insurance fraud includes tricking an insurance provider in order to obtain insurance proceeds. Every sort of insurance policy, plan, or agreement, including life insurance, auto insurance, home insurance, workers’ compensation, health insurance, commercial insurance, and publicly sponsored insurance programs like Medicare or Medicaid, can be the subject of insurance fraud. If you submit a written statement that is a component of an insurance application or claims and it contains false information or hides information, you will have committed a fraudulent insurance act under the New York penal law.

Examples of insurance fraud include setting fire to property in order to get the insurance money, faking a car’s theft in order to get the money, claiming that something was stolen during a break-in or damaged in an accident when it wasn’t, and overstating the value of stolen or damaged items.

New York criminal law has a number of various offenses related to insurance fraud. The precise insurance fraud offense you will be charged with if you perform an insurance fraud act will depend on a number of different circumstances, including the type of insurance plan involved and the amount of money involved. While most insurance fraud offenses are felonies, some, like insurance fraud in the fifth degree, are misdemeanors. If you perform an insurance fraud act and receive or attempt to receive $1,000 or less, you will be charged with insurance fraud in the fifth degree under New York Penal Law 176.10.

Penalties For Insurance Fraud In The Fifth Degree In New York

In New York, insurance fraud in the fifth degree is the least severe form of insurance fraud. It is a misdemeanor offense that carries a penalty of up to one year in jail and a fine of up to $1,000.

Insurance fraud in the fifth degree occurs when an individual or group intentionally defrauds an insurer out of more than $1,000. Examples of insurance fraud in the fifth degree include making a false statement on an insurance application or claiming damage to property that never occurred.

It is important to note that insurance fraud is a serious crime in New York and can result in significant penalties and consequences. The penalties for insurance fraud increase in severity with each degree, with insurance fraud in the first degree being the most severe and insurance fraud in the fifth degree being the least severe.

If you are facing charges of insurance fraud in New York, it is important to seek legal advice from an experienced attorney who can guide you through the legal process and help you defend your rights.

Defenses To Insurance Fraud In The Fifth Degree In New York

If you did not intend to defraud the insurer, you would not be guilty of insurance fraud. For instance, you would not have engaged in insurance fraud if you made a claim for items lost in a burglary but were unaware that a specific item had already been taken by a relative. Similarly, you would not have engaged in insurance fraud if the claim included vehicle damage sustained in an accident and you accidentally included damage that actually happened in an earlier occurrence.

Differences Between Insurance Fraud In The First, Second, Third, Fourth, And Fifth Degrees in New York

In New York, insurance fraud is classified into five degrees, with each degree representing a different level of severity. Here are the main differences between each degree of insurance fraud:

Insurance Fraud in the First Degree:

This is the most severe form of insurance fraud in New York. It is a felony offense that carries a penalty of up to 25 years in prison and a fine of up to $100,000 or doubles the amount of the fraud. Insurance fraud in the first degree occurs when an individual or group intentionally defrauds an insurer out of more than $1 million.

Insurance Fraud in the Second Degree

This is also a felony offense that carries a penalty of up to 15 years in prison and a fine of up to $50,000 or double the amount of the fraud. Insurance fraud in the second degree occurs when an individual or group intentionally defrauds an insurer out of more than $50,000.

Insurance Fraud in the Third Degree

This is a felony offense that carries a penalty of up to seven years in prison and a fine of up to $5,000 or doubles the amount of the fraud. Insurance fraud in the third degree occurs when an individual or group intentionally defrauds an insurer out of more than $3,000.

Insurance Fraud in the Fourth Degree

This is a misdemeanor offense that carries a penalty of up to one year in jail and a fine of up to $1,000. Insurance fraud in the fourth degree occurs when an individual or group intentionally defrauds an insurer out of more than $1,000.

Insurance Fraud in the Fifth Degree

This is the least severe form of insurance fraud in New York. It is a misdemeanor offense that carries a penalty of up to one year in jail and a fine of up to $1,000. Insurance fraud in the fifth degree occurs when an individual or group intentionally defrauds an insurer out of less than $1,000.

In all degrees of insurance fraud, the penalties and consequences can be severe, including fines, imprisonment, restitution, and damage to one’s reputation. If you are facing charges of insurance fraud, it is important to seek legal advice from an experienced attorney who can guide you through the legal process and help you defend your rights.

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