(a) IN GENERAL- Chapter 47 of title 18, United States Code, is amended by adding at the end the following new sections:
Sec. 1033. Crimes by or
affecting persons engaged in the business of insurance whose activities affect interstate
commerce; (a)(1) Whoever is
engaged in the business of insurance whose activities affect interstate commerce and
knowingly, with the intent to deceive, makes any false material statement or report or
willfully and materially overvalues any land, property or security-- (A) in connection with
any financial reports or documents presented to any insurance regulatory official or
agency or an agent or examiner appointed by such official or agency to examine the affairs
of such person, and (B) for the purpose of
influencing the actions of such official or agency or such an appointed agent or examiner,
shall be punished as provided in paragraph (2). (2) The punishment for
an offense under paragraph (1) is a fine as established under this title or imprisonment
for not more than 10 years, or both, except that the term of imprisonment shall be not
more than 15 years if the statement or report or overvaluing of land, property, or
security jeopardized the safety and soundness of an insurer and was a significant cause of
such insurer being placed in conservation, rehabilitation, or liquidation by an
appropriate court. (b)(1) Whoever-- (A) acting as, or being
an officer, director, agent, or employee of, any person engaged in the business of
insurance whose activities affect interstate commerce, or (B) is engaged in the
business of insurance whose activities affect interstate commerce or is involved (other
than as an insured or beneficiary under a policy of insurance) in a transaction relating
to the conduct of affairs of such a business, willfully embezzles, abstracts, purloins, or
misappropriates any of the moneys, funds, premiums, credits, or other property of such
person so engaged shall be punished as provided in paragraph (2). (2) The punishment for
an offense under paragraph (1) is a fine as provided under this title or imprisonment for
not more than 10 years, or both, except that if such embezzlement, abstraction,
purloining, or misappropriation described in paragraph (1) jeopardized the safety and
soundness of an insurer and was a significant cause of such insurer being placed in
conservation, rehabilitation, or liquidation by an appropriate court, such imprisonment
shall be not more than 15 years. If the amount or value so embezzled, abstracted,
purloined, or misappropriated does not exceed $5,000, whoever violates paragraph (1) shall
be fined as provided in this title or imprisoned not more than one year, or both. (c)(1) Whoever is
engaged in the business of insurance and whose activities affect interstate commerce or is
involved (other than as an insured or beneficiary under a policy of insurance) in a
transaction relating to the conduct of affairs of such a business, knowingly makes any
false entry of material fact in any book, report, or statement of such person engaged in
the business of insurance with intent to deceive any person, including any officer,
employee, or agent of such person engaged in the business of insurance, any insurance
regulatory official or agency, or any agent or examiner appointed by such official or
agency to examine the affairs of such person, about the financial condition or solvency of
such business shall be punished as provided in paragraph (2); (2) The punishment for
an offense under paragraph (1) is a fine as provided under this title or imprisonment for
not more than 10 years, or both, except that if the false entry in any book, report, or
statement of such person jeopardized the safety and soundness of an insurer and was a
significant cause of such insurer being placed in conservation, rehabilitation, or
liquidation by an appropriate court, such imprisonment shall be not more than 15 years. (d) Whoever, by threats
or force or by any threatening letter or communication, corruptly influences, obstructs,
or impedes or endeavors corruptly to influence, obstruct, or impede the due and proper
administration of the law under which any proceeding involving the business of insurance
whose activities affect interstate commerce is pending before any insurance regulatory
official or agency or any agent or examiner appointed by such official or agency to
examine the affairs of a person engaged in the business of insurance whose activities
affect interstate commerce, shall be fined as provided in this title or imprisoned not
more than 10 years, or both. (e)(1)(A) Any individual
who has been convicted of any criminal felony involving dishonesty or a breach of trust,
or who has been convicted of an offense under this section, and who willfully engages in
the business of insurance whose activities affect interstate commerce or participates in
such business, shall be fined as provided in this title or imprisoned not more than 5
years, or both. (B) Any individual who
is engaged in the business of insurance whose activities affect interstate commerce and
who willfully permits the participation described in subparagraph (A) shall be fined as
provided in this title or imprisoned not more than 5 years, or both. (2) A person described
in paragraph (1)(A) may engage in the business of insurance or participate in such
business if such person has the written consent of any insurance regulatory official
authorized to regulate the insurer, which consent specifically refers to this subsection. (f) As used in this
section-- (1) the term `business
of insurance' means-- (A) the writing of
insurance, or (B) the reinsuring of
risks, by an insurer, including all acts necessary or incidental to such writing or
reinsuring and the activities of persons who act as, or are, officers, directors, agents,
or employees of insurers or who are other persons authorized to act on behalf of such
persons; (2) the term `insurer'
means any entity the business activity of which is the writing of insurance or the
reinsuring of risks, and includes any person who acts as, or is, an officer, director,
agent, or employee of that business; (3) the term `interstate
commerce' means-- (A) commerce within the
District of Columbia, or any territory or possession of the United States; (B) all commerce between
any point in the State, territory, possession, or the District of Columbia and any point
outside thereof; (C) all commerce between
points within the same State through any place outside such State; or (D) all other commerce
over which the United States has jurisdiction; and (4) the term `State'
includes any State, the District of Columbia, the Commonwealth of Puerto Rico, the
Northern Mariana Islands, the Virgin Islands, American Samoa, and the Trust Territory of
the Pacific Islands.