Live Insurance News

Auto insurance fraud is rapidly growing in New York

February 20, 2013April 30, 2013

This is forcing residents to have to pay more for their coverage as it is causing insurer costs to soar. A startup company that has placed its focus in auto insurance, has released an article that has detailed its data that suggests that cases of fraud are considerably on the rise in New York. The article provided an explanation of the upward trend of fraudulent claims within the state. It also went on to show that the auto insurance fraud is not a victimless crime, because it is causing residents…

Insurance news in Oklahoma could stop controversial anti-fraud vehicles

February 20, 2013February 19, 2013 Julie Campbell

A new bill would remove the police package cars that were purchased by the state’s department. A bill in Oklahoma is making insurance news as it has now been passed by a Senate panel which would bar the state’s Insurance Department from being able to use the police package vehicles that it purchased for use by its anti-fraud investigators. The vote on Monday was unanimous for stopping the “specialized motor vehicle” use. The Senate General Government Committee released their insurance news relating to the vote which occurred on Monday. It…

Auto insurance fraud spiking rates in New York

January 28, 2013April 30, 2013

Insurance fraud continues to complicate New York auto insurance Insurance fraud is a serious problem throughout the U.S., and one that continues to defy any measures that have been taken to mitigate it. In New York, the issue is beginning to cause significant financial strain for consumers, especially in regards to auto insurance. According to Brooklyn Executive Assistant District Attorney Jeff Ferguson, auto insurance fraud is causing the cost of this coverage to grow at an alarming rate. If measure are not taken quickly, auto insurance may soon become too…

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…