The vigorous crackdown on insurance fraud and abuse spearheaded by New York‘s insurance companies, law enforcement agencies and prosecutors, and supported by tough insurance department regulations and a statewide public information program is beginning to put a small dent in the costs of New York State‘s no-fault insurance system, according to the New York Alliance Against Insurance Fraud (NYAAIF).
Although New York reportedly remains the insurance fraud capital of the country, NYAAIF noted some recent progress. For example, the Insurance Information Institute (I.I.I.) reported that:
· After a long period of soaring growth, the average injury claim cost (known as PIP claims) under New York‘s no-fault system declined 8.7 percent during the 12 month period ending June 30, 2003.
