Welcome!

News Feed Item

Auto Insurance Fraud is Rising in New York, Says New Article on New York Motor Insurance Website

This Trend is Leading to More Expensive Auto Insurance Rates

NEW YORK, Feb. 18, 2013 /PRNewswire-iReach/ -- New York Motor Insurance, a startup company specializing in the auto insurance field, has just posted an article, http://www.newyorkmotorinsurance.com/blog/insurance-fraud-rising/, to its website that details how insurance fraud is on the rise in New York. In turn, the article notes, this is leading to expensive auto insurance rates for customers.

(Photo: http://photos.prnewswire.com/prnh/20130218/CG61664)

According to research and information that is included in the article, around 36% of the insurance claims filed in the state of New York are fraudulent. This epidemic of insurance fraud is currently estimated to cost tax payers over $1 billion per year. Jeff Ferguson, an assistant district attorney based in Brooklyn, has said that if something is not done soon to combat this serious issue, car insurance may become too expensive for most New Yorkers to afford.

The reason that this issue ends up hitting the pocketbooks of law abiding drivers is because in order to make up for the losses that happen in fraudulent insurance cases, auto insurance companies will typically raise their rates. Since providers look at where customers live when determining how much they will have to pay, those who live in the Empire State will end up paying for the crimes of others.

"Because of insurance fraud, New York City drivers are faced with some of the highest insurance rates in the nation," the new article on http://www.newyorkmotorinsurance.com/ said, adding that in 2009, drivers in Brooklyn paid an average of $2,143 for their annual insurance premium.

"This is nearly three times higher than the national average of $785 as reported by the National Association of Insurance Commissions (NAIC) for 2009."

In an effort to curb insurance fraud in the state of New York and bring prices back down to a more reasonable level, officials agree that new laws are needed. For example, a $279 million fraud scheme that was discovered last year by authorities inspired the New York senate to pass new insurance fraud measures that impose stiff penalties for anyone who takes part in this type of crime. Unfortunately, this legislation has been ineffective so far. Criminals have been very adept at circumventing the law and figuring out new ways to be dishonest and commit insurance fraud.

As the article on New York Motor Insurance pointed out, until law makers come up with effective ways to fight insurance fraud, rates will probably continue to rise. Drivers must be vigilant and take the time to search for ways to cut their insurance premiums as much as possible. The company's website offers a free guide on how New Yorkers can lower their rates.

About New York Motor Insurance:

New York Motor Insurance is a New York City based tech startup in the auto insurance field. Specializing in rate comparisons, New York Motor Insurance hopes to bring affordable auto insurance to all New Yorkers. For more information, or to get a free insurance quote, please visit http://www.newyorkmotorinsurance.com

New York Motor Insurance
154 Grand St
New York, NY 10013

Media Contact: Drew Mack New York Motor Insurance, (347) 960-6520, [email protected]

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE New York Motor Insurance

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, contrasted how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He showed how the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He also demoed building immutable pipelines in the cloud ...
SYS-CON Events announced today that Catchpoint Systems, Inc., a provider of innovative web and infrastructure monitoring solutions, has been named “Silver Sponsor” of SYS-CON's DevOps Summit at 18th Cloud Expo New York, which will take place June 7-9, 2016, at the Javits Center in New York City, NY. Catchpoint is a leading Digital Performance Analytics company that provides unparalleled insight into customer-critical services to help consistently deliver an amazing customer experience. Designed ...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
While many government agencies have embraced the idea of employing cloud computing as a tool for increasing the efficiency and flexibility of IT, many still struggle with large scale adoption. The challenge is mainly attributed to the federated structure of these agencies as well as the immaturity of brokerage and governance tools and models. Initiatives like FedRAMP are a great first step toward solving many of these challenges but there are a lot of unknowns that are yet to be tackled. In hi...
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
The proper isolation of resources is essential for multi-tenant environments. The traditional approach to isolate resources is, however, rather heavyweight. In his session at 18th Cloud Expo, Igor Drobiazko, co-founder of elastic.io, drew upon his own experience with operating a Docker container-based infrastructure on a large scale and present a lightweight solution for resource isolation using microservices. He also discussed the implementation of microservices in data and application integrat...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...