In Connecticut, what is the maximum penalty for insurance fraud?

In Connecticut, the legislation addressing insurance fraud stipulates that the maximum penalty includes a fine of up to $15,000 or imprisonment for a term that can extend up to 15 years, or both. This reflects the seriousness with which the state regards insurance fraud, balancing the financial penalty with the potential for significant imprisonment. The rationale behind such severe consequences is rooted in the need to deter individuals from engaging in fraudulent activities that compromise the integrity of the insurance system and impose financial burdens on both insurers and policyholders.

While other options propose various amounts for fines, they do not encompass the breadth of potential penalties outlined in the law. Understanding this helps emphasize the gravity of committing insurance fraud in Connecticut and the comprehensive approach the state takes in sanctioning such offenses.