Another state has now joined the growing number across the country allowing for electronic proof formats. According to a recent announcement from a spokesperson from the New York State Department of Motor Vehicles, the state has now implemented a regulation that will make it possible for drivers to be able to show their proof of auto insurance either in the traditional way with a paper card, or in an electronic format that can be displayed on mobile device screens. The new proof of insurance regulation has actually been in effect…
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Auto insurance fraud legislative package gets New York Senate approval
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…
Read MoreUsage based insurance programs come to New York state
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…
Read MoreAuto insurance fraud is rapidly growing in New York
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…
Read MoreAuto insurance fraud spiking rates in New York
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…
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