American Transit Insurance v. Corcoran

OPINION OF THE COURT

Memorandum.

The judgment of the Appellate Division should be modified, without costs, by granting the petition to the extent of reducing the penalty to $500 and, as so modified, the judgment confirming the Insurance Superintendent’s determination should be affirmed.

The Superintendent of Insurance determined that American *979Transit Insurance Company (American) was guilty of willful violation of Insurance Law § 334 and regulation 131 (11 NYCRR part 162). An aggregate penalty of $8,850 was assessed. We agree with the Appellate Division that there is substantial evidence to…