N.Y. Insurance Law Section 503
Enforcement

If the superintendent finds, after notice and hearing, that any person, other than a governmental entity, has wilfully violated this article, then the superintendent may order the person to pay to the people of this state a penalty in a sum of one thousand dollars for the first violation and two thousand dollars for each subsequent violation.

Source: Section 503 — Enforcement, https://www.­nysenate.­gov/legislation/laws/ISC/503 (updated Jul. 31, 2015; accessed Nov. 8, 2025).

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Verified:
Nov. 8, 2025

Last modified:
Jul. 31, 2015

§ 503. Enforcement's source at nysenate​.gov

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