Tag: New York car insurance

New York insurance officials seeks to decrease system-wide fraud

Marc
New York auto insurance

The state’s Department of Financial Services (DFS) is attempting to beat the plague of no-fault system fraud. The department is making reforms at the state level to help to eliminate the tremendous number of loopholes that are making the no-fault New York insurance system for auto coverage a highly abused program. These new regulations are meant to take aim at the issue of doctors who are receiving healthcare payments for services that are not actually being provided, as well as technical problems that are frequently used to stop a decision…

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New York doctors suspected of fraud to the personal injury protection system face possible decertification

New York has launched a meticulous statewide initiative to shut down medical offices that have been fraudulently billing for medical services for car accident victims under the no-fault personal injury protection (PIP) system in the state, when those services are either entirely unnecessary or were never administered in the first place. Under the new regulations of this initiative, any doctors who have taken part in these unscrupulous efforts to defraud the PIP system in New York will be committing professional suicide. The regulations are being issued by the Department of…

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Report shows the discrepancy of auto insurance claims in New York City

S.Vagus

The Insurance Research Council of Pennsylvania has released a new report concerning auto claims and insured losses in New York City. New York has become infamous in the insurance industry for the multitude of auto claims that come from the state. In recent years, more claims have been coming in to insurers, many of which have been found to be fraudulent. The report highlights the differences in claiming behavior throughout the state and touches upon the discrepancies found in claims. According to the report, personal injury protection claims have risen…

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Allstate files $5 million lawsuit in New York as a result of fraud

Allstate Insurance is looking to recover some $5 million in New York that has been lost due to fraud. The company has filed a lawsuit targeting 21 individuals, 17 of which are being accused of misrepresenting public entities. The insurer claims that these people have continuously submitted fraudulent claims on behalf of corporation that were owned and operated by laypersons, as opposed to licensed professionals. The insurer notes that fraud is one of the primary reasons rates have been rising in the state in recent years. Allstate has filed some…

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Allstate sues 10 New York area defendants for $5 million in insurance fraud

Julie Campbell

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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