Live Insurance News

Auto insurance fraud rising most quickly in Minnesota

January 28, 2013April 30, 2013

The state is now leading the country in organized scams to the vehicle coverage industry. An auto insurance news report was just issued by the Insurance Federation of Minnesota, which made a call to legislators, prosecutors, and regulators to increase their efforts to crack down on the fraud that is occurring within the industry in this state. This request is to boost the efforts that these officials have already been making for this purpose. There is already a crackdown in place to help to stop the no-fault auto insurance fraud…

National Insurance Crime Bureau finds high level of insurance fraud in Florida

January 25, 2013January 23, 2013 Marc

Florida leads the country in insurance fraud, according to National Insurance Crime Bureau Florida has attracted a significant amount of focus when it comes to fraud in its insurance sector over the past few years. The state’s no-fault auto insurance laws, and some regulations concerning homeowners insurance, have allowed the sector to be easily manipulated and exploited in the past. State legislators recently began overhauling Florida laws to cut down on fraudulent activities, but have found only modest success. The National Insurance Crime Bureau has released new information showing that…

Auto insurance fraud strikes unsuspecting customers in Michigan

January 21, 2013April 30, 2013

Some drivers in the state may be carrying fake policies without knowing it. Certain drivers in Michigan are being cautioned that they may wish to look into their auto insurance policies in order to make certain that they have not fallen victim to a scam that has occurred within the state. Regulators in Michigan are warning that fake policies have been issued through a fraudulent company. The drivers at risk are those that have purchased auto insurance coverage through the Tennessee Christian Motorist Aid, say the regulators in the state.…

Auto insurance fraud is the latest NJ Assembly target

January 17, 2013January 17, 2013 H. Cutner

A new bill has been sponsored by Assemblyperson Wayne P. DeAngelo (D) to implement a crackdown. A new bill A2204 is before the Assembly, having been sponsored by Assemblyperson Wayne P. DeAngelo (D-Mercer/Middlesex) with the purpose of targeting the residents of the state who are purchasing their auto insurance in other states through fraudulent means, despite the fact that they reside primarily within New Jersey or the insured vehicle is primarily kept there. This is considered to be a form of fraud that is becoming quite costly within the state.…

Auto insurance lacking in over one third of drivers in India

January 4, 2013January 4, 2013 Julie Campbell

Research has estimated that up to 35 percent of vehicles on Indian roads are not covered by a policy. A shocking auto insurance news release from Mumbai has revealed that an estimated 35 percent of cars on the roads of India are not carrying the third party liability coverage that is required by law. Moreover, over two thirds of two-wheeled vehicles are not covered by a legally required policy. This data was provided following an analysis performed by auto insurance companies in the country. What is possibly even worse is…