Terms Used In Louisiana Revised Statutes 40:1424

  • Fraud: Intentional deception resulting in injury to another.
  • Insurance professional: means an adjuster, agent, managing general agent, surplus lines broker, reinsurance intermediary, insurance consultant, broker, or attorney-in-fact. See Louisiana Revised Statutes 40:1421
  • Insurer: means any person or company subject to regulation pursuant to Title 22 of the Louisiana Revised Statutes of 1950. See Louisiana Revised Statutes 40:1421
  • person: includes a body of persons, whether incorporated or not. See Louisiana Revised Statutes 1:10

            A. If any person or any insurer, any employee thereof, or any insurance professional has knowledge of or has reason to believe that a violation of La. Rev. Stat. 22:1923, 1924, or 1925 will be, is being, or has been committed, that person shall notify the section of insurance fraud in the Department of Insurance, in accordance with La. Rev. Stat. 22:1926.

            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:

“Any person who knowingly presents a false or fraudulent claim for payment of a loss or benefit or knowingly presents false information in an application for insurance is guilty of a crime and may be subject to fines and confinement in prison.”

            C. The lack of the statement required by Subsection B of this Section shall not constitute a defense in any criminal prosecution. The statement shall not be required to appear on applications and forms relating to reinsurance.

            Acts 1999, No. 1312, §4, eff. Jan. 1, 2000; Acts 2001, No. 598, §2; Acts 2008, No. 415, §2, eff. Jan. 1, 2009.

            NOTE: See La. Rev. Stat. 40:1429 regarding termination date of Subpart on July 1, 2024.

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