Allstate Insurance Company has filed a lawsuit against 10 defendants in the New York area in order to help to recover $5 million in fraudulent insurance claims. This is the company’s fourth lawsuit of this nature this year. The complaint includes specific mention of five medical professional corporations, a physician, one corporation, and three individuals who are not physicians. Thirty one fraud lawsuits worth over $170 million in damages have been filed by Allstate in the state of New York since 2003. New York state is a hotbed of insurance…
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Rates for homeowners insurance are on the rise
Homeowners insurance rates are expected to experience a notable increase following a year that has seen significant severe thunderstorms and tornadoes, and where forecasts predict that the 2011 hurricane season will be more active than the average. In fact, in areas where the storms have been the most damaging, policyholders may find themselves paying up to 20 percent more to their insurers. Though some homeowners are counting on a lower increase because the value of their homes have decreased, it is important to recognize that it is not the market…
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