According to the Coalition Against Insurance Fraud, New York iscracking down on its auto fraud perpetrators, with an"eye-for-an-eye" mentality. Lawmakers are considering combatingauto fraud by seizing fraudsters' wheels.

Two bills -- Senate Bill 7300 and Assembly Bill 10617 --recently introduced by Sen. Bill Larkin and Assembly members IvanC. Lafayette and Alexander B. Pete Grannis, would amend the currentvehicle and traffic law by one additional subparagraph. Theproposed legislation would freeze driving privileges for one yearand possibly suspend the vehicle registration for anyone convictedof auto insurance fraud.

A breeding ground of fraud activity, New York City recentlyranked ninth in the National Insurance Crime Bureau's top 10 citieswith the highest numbers of staged auto accidents.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.