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Session Laws, 1999
Volume 796, Page 1152   View pdf image
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(6) IF REQUESTED BY THE COMMISSIONER, AN EXPLANATION OF ANY
DENIAL OR PENDING PAYMENT OF A CLAIM TO ANY INDIVIDUAL WHO ALLEGES OR
HAS ALLEGED TO BE A HOLOCAUST VICTIM;

(7) A SUMMARY OF THE LENGTH OF TIME FOR THE PROCESSING AND
DISPOSITION OF A CLAIM TO AN INDIVIDUAL WHO ALLEGES OR HAS ALLEGED TO BE
A HOLOCAUST VICTIM BY THE INSURER; AND

(8) IF THE INSURER IS UNABLE TO PROVIDE ANY OF THE INFORMATION
REQUIRED BY THIS SECTION, AN EXPLANATION OF THE REASONS WHY AND
WHETHER THE INFORMATION MAY, IN THE FUTURE, BE ASCERTAINABLE.

(C) THE COMMISSIONER SHALL DIRECT AN INSURER IN THIS STATE TO FILE A
REPORT UNDER THIS SECTION IF:

(1) THE COMMISSIONER DETERMINES THAT THE INTERNATIONAL
COMMISSION IS NOT MOVING EFFECTIVELY TOWARD THE SWIFT AND EQUITABLE
RESOLUTION OF INSURANCE CLAIMS MADE BY HOLOCAUST VICTIMS; OR

(2) THE COMMISSIONER' DETERMINES THAT AN INSURER IS NOT
MEANINGFULLY PARTICIPATING IN THE WORK OF THE INTERNATIONAL
COMMISSION OR COOPERATING WITH THE INTERNATIONAL COMMISSION IN A
MANNER REASONABLY CALCULATED TO EFFECT THE PROMPT INVESTIGATION AND
RESOLUTION OF CLAIMS MADE BY HOLOCAUST VICTIMS.

(C) (D) EXCEPT AS PROVIDED IN SUBSECTION (A) OF THIS SECTION, THE
REPORTS REQUIRED BY SUBSECTION (B) OF THIS SECTION SHALL BE MADE WITHIN
30 DAYS AFTER THE END OF THE CALENDAR YEAR IN WHICH THIS TITLE BECOMES
EFFECTIVE THE INSURER WAS DIRECTED BY THE COMMISSIONER TO FILE A REPORT
AND THEN ANNUALLY FOR EACH OF THE SUCCEEDING 10 YEARS.

(D) (E) A REPORT SUBMITTED TO THE COMMISSIONER UNDER TO THIS
SECTION SHALL BE CERTIFIED AND AFFIRMED UNDER OATH AS BEING TRUE AND
NOT MISLEADING AND AS CONTAINING THE MOST ACCURATE INFORMATION
AVAILABLE AT THE TIME OF THE SUBMISSION OF THE REPORT.

(E) (F) THE COMMISSIONER MAY WAIVE PENALTIES AND FINES IMPOSED
BY THIS TITLE FOR THOSE INSURERS THAT, THROUGH NO FAULT OF THEIR OWN,
WERE UNAWARE THAT THEY, OR MEMBERS OF A HOLDING COMPANY SYSTEM THAT
INCLUDES THE INSURER, WERE OBLIGATED TO FILE REPORTS UNDER THIS TITLE
AND TO COMPLY WITH THIS TITLE.

(F) (G) THE COMMISSIONER IS AUTHORIZED TO USE ANY POWER
AVAILABLE TO THE STATE TO COMPEL HOLDING COMPANY SYSTEMS THAT INCLUDE
ISSUERS OF INSURANCE POLICIES TO HOLOCAUST VICTIMS TO SUBMIT REPORTS
UNDER THIS TITLE AND TO COMPLY WITH THIS TITLE.

(G) (H) (1) AN INSURER THAT KNOWINGLY OR RECKLESSLY FILES A
FALSE OR MISLEADING CERTIFICATION REQUIRED BY THIS SECTION IS SUBJECT TO
A FINE OF NOT LESS THAN $100,000 OR A GREATER AMOUNT AS THE COMMISSIONER

 

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Session Laws, 1999
Volume 796, Page 1152   View pdf image
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