To help fight rising no-fault insurance premiums, and the insurance fraud that helps cause them, a coalition of community groups, small businesses, elected officials and law enforcement have joined forces to push for industry reforms.
Councilmembers Peter F. Vallone Jr. and Daniel J. Halloran, along with 20 Queens-based community groups, have joined Fraud Costs New York in this fight.
According to Fraud Costs New York, New York City drivers pay about 67 percent to 272 percent more than the statewide average for no-fault coverage, 25 percent more than drivers in other no-fault states and New Yorkers pay the third highest automobile liability premiums in the nation.
With these insurance costs rising, one way to help lower premiums is to fight back against insurance fraud, which cost New Yorkers $241 million in 2010 according to Fraud Costs New York.
There are four major reforms the coalition would like to see implemented: tougher penalties for insurance fraud, encourage fast and fair dispute settlements, permit adequate time for fraud investigations and combat excessive and unnecessary medical charges.
“Without real reform in Albany, the criminals will keep gouging the people of Queens and across New York,” said Vallone. “We need sensible reforms that continue real protections for New Yorkers who are hurt in accidents, but undercut the criminals who feed on the current system.”
“In these difficult budget times, Albany can help working families save money by cracking down on criminals who milk the no-fault system for their advantage,” said Halloran.
For more information visit www.i-issues.com/new-york.