Live Insurance News

Auto insurance concerns put an end to RelayRides in New York

May 20, 2013May 25, 2013 Logan B.

Car-sharing service shut down due to auto insurance regulations RelayRides, a popular car-sharing service, has announced that it will cease operations in New York due to auto insurance concerns. Car-sharing programs are becoming more popular as consumers grow more environmentally conscious and look to save money on transportation costs. These programs are typically used by those commuting to and from work, but New York regulators claim that RelayRides violates the state’s auto insurance laws, which could cause some significant problems for the company itself as well as the insurance companies…

Auto insurance fraud legislative package gets New York Senate approval

May 13, 2013May 25, 2013 Julie Campbell

Three bills that are geared toward reducing the rate of scams on the system are now moving forward. The New York State Senate has just given its approval to three bills that have been designed to help to tackle the problem of auto insurance fraud by raising the penalties against those who take part in these behaviors, and by providing insurers with greater flexibility for preventing criminals from being able to obtain policies so that they can continue to run their scams. The package for three bills has now been…

Usage based insurance programs come to New York state

February 22, 2013April 30, 2013

Drivers will now be able to choose if they want their habits behind the wheel monitored by their insurers. Though New York does already have some usage based insurance options, the large players are now making their way through the state to provide good drivers with the chance to save on their premiums by revealing their driving habits to their insurers. The programs come with a small electronic device installed on the car to transmit driving data to the company. New York is not alone in its usage based insurance…

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…

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…