According to the DFS allegations in the Four Consent Orders (found here):
• Following a market conduct investigation in 2018, DFS has continued to penalize insurance companies for failing to timely report certain insured vehicle information to the NY DMV
• DFS fined Allstate Insurance group $796,000; Farmers Insurance Group $764,000; Tokio Marine Insurance Group $720,000; and National General Insurance Group $707,000
• NYS DMV’s Insurance Information & Enforcement System (“IIES”) enables law enforcement to know whether vehicles on the road lack insurance. As a public safety matter, injured motorists rely on the benefit of statutorily-required auto insurance.
• Insured vehicle information provided by insurers to DMV is used to identify, sanction, and ultimately remove uninsured vehicles from New York’s highways.
• DFS found that these insurers periodically failed to timely report certain insured vehicle information to the DMV through IIES and periodically failed to timely respond to DMV initiated mandatory verification notices, in violation of the Insurance Law and applicable regulations.
• No DFS press release was issued in conjunction with these enforcement actions.