Auto insurance fraud is soon to become a felony in the state of New York. Legislators are working on harsher penalties for those submitting false claims and other fraudulent activity according to the article “New York Senate Passes Bill Making Auto Insurance Fraud a Felony” found on the US Insurance Corner website.
The New York Senate is hoping that passing harsher penalties against perpetrators will not only encourage less fraud but will ultimately lower costs of auto insurance quotes for everyone in the state. Fraud losses have to be made up somehow by insurers and unfortunately it ends up coming out of innocent, law-abiding customers.
Republican Senator James Seward sponsored the bill and on the Senate’s insurance committee as a chairman. He bel Read more…
