§ 405. Immunity. In the absence of fraud or bad faith, no person
subject to the provisions of this chapter, the banking law or the
insurance law shall be subject to civil liability, and no civil cause of
action of any nature shall arise against such person for any: (a)
information relating to suspected violations of the banking law or the
insurance law furnished to law enforcement officials, their agents and
employees; (b) information relating to suspected violations of the
banking law or the insurance law furnished to other persons subject to
the provisions of this chapter; (c) information furnished in reports to
the financial frauds and consumer protection unit, its agents or
employees or any state agency investigating fraud or misconduct relating
to financial fraud, its agents or employees; and (d) information
relating to insurance fraud as defined in section 176.05 of the penal
law furnished to the National Insurance Crime Bureau. For the purposes
of this section the National Insurance Crime Bureau is a nonprofit
dedicated to the prosecution of insurance fraud and vehicle crime. The
superintendent or any employee of the financial frauds and consumer
protection unit, in the absence of fraud or bad faith, shall not be
subject to civil liability and no civil cause of action of any nature
shall arise against the superintendent or any such employee by virtue of
the publication of any report or bulletin related to the official
activities of the financial frauds and consumer protection unit. Nothing
herein is intended to abrogate or modify in any way any common law
privilege or immunity heretofore enjoyed by any person.