N Y NAII Sen intends to include fraud Seward
In an address to the National Association of Independent Insurers legislative Fall Meeting, James L. Senator Seward, President of the Senate, the Standing Committee on Insurance, stressed the need for reform of serious fraud in New York.Insurance fraud costs New York driver about $ 1 billion, or $ 124 a year by the driver, “said Senator Seward. “This is totally unacceptable in a state has a high auto insurance premiums to begin.” It also costs New York $ 100 extra per vehicle to subsidize the state of the increased risk plan. “Seward said that tough laws in the fight against fraud could remedy the situation.
Although still Trails New York New Jersey and Massachusetts, the state as having the highest average premium car, the hard market has led to an explosion of the affected State at risk for auto insurance - one most urgent issues of insurance in the year, Senator Seward. In addition, the increase in the number of appeals against the insurer, the État’s no-fault system is also a contribution to the problem.
The insurance industry has a huge economic impact in New York is home to many insurers and employs thousands of New York, “Seward Sen.” We need to promote a climate of competition and freedom of choice of consumers for affordable insurance available to the State.
He accused the continuing impasse between the Senate from New York and the mounting technique for preventing passage of serious fraud, law reform and noted that the Senate supports a package of legislation, insurance that fraud on several fronts, including the restoration of Extender, fraud insurance under penalty of prosecution encourage the insurers to give more time to study suspicion of fraud, establishing a process fraud decertify health care providers and providing more resources to the Crown to prosecute fraud. ”
It also supports the restoration of “Extension”, which expired in 2001, to allow insurers to cancel or nonrenew up to 2 percent of policies and would flex-Rating 7 per cent prohibited without prior authorization . The removal of these provisions, has contributed to that growth risks associated with planning, because “insurers are less of a chance of driving without perfect records, because they are connected with them for a period of three years” , “Said Senator Seward.
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