An insurance company in its first insurance fraud lawsuit this year accused a group of New York doctors and business professionals of filing fraudulent claims for unnecessary medical tests.
GEICO filed three lawsuits seeking a total of $17 million from three organizations for allegedly submitting thousands of suspect no-fault fraud claims.
Florida and New York, two states that have no-fault auto insurance, led states in the number of questionable insurance claims resulting from staged vehicle accidents, which nationally showed a 46% increase between 2007 and last year.
No-fault auto insurance, which was designed to lower auto insurance rates, has actually increased costs because medical claims in these cases are rising “sharply,” according to a new study.
Several insurance trade groups spoke to New York legislators about the need for no-fault auto insurance reform as state residents deal with record increases, spurred by an “epidemic” of fraud.
Property-casualty insurer GEICO has announced the filing of a series of civil suits against defendants accused of running an accident ring in New York that cost the company $2 million in fraudulent claims.
Vowing vigilance “in protecting the pocketbooks of consumers,” New York insurance regulators are proposing revised rules to govern no-fault automobile insurance in the state.
No-fault payments for medical care for New York accident victims rose 56% in the second quarter, leading one state insurance group to seek reform in the state’s laws.
As an insurance agent for the past 15 years, I have never been more satisfied with my job of helping our seniors maneuver through the enrollment process of Medicare.