Auto insurance premiums for drivers in New York's assigned risk pool, the Automobile Insurance Plan, will be reduced by 7 percent, the New York State Insurance Department announced today.

Insurance Superintendent Eric R. Dinallo said the rate reductions can be attributed to the department's continuing efforts to combat fraud.

"This rate reduction will result in statewide savings of nearly $20 million for new drivers and others in the assigned risk plan," he said.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • 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

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