No-Fault Auto Insurance Fraud Reaches Epidemic Proportions in NY - Reforms Needed to Stem Rising Cost of This Crime

Topics:
Insurance
Tags:
Business Operations,
Fraud,
Insurance Information Institute,
Litigation
Source:
Insurance Information Institute

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Overview: This paper deals with the pros and cons of No-fault system. Under the current no-fault medical system, (sometimes called personal injury protection or PIP) criminals have 180 days to submit medical bills after an accident, while insurers have only 30 days to pay or deny a claim - even if there is a strong suspicion of fraud. This allows criminals to conceal fraud and abuse in piles and piles of paperwork. The insurance industry supports no-fault reforms that would make it more difficult to steal from the system, while not reducing benefits to those who are injured or slowing down payments to honest policyholders, medical providers and attorneys.

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Format: HTML | Pages: 2

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