Legislators Seeking To Check State’s Car Insurance Rates
The State Assembly has establish-ed a committee to negotiate with the State Senate’s new legislation in help-ing protect consumers from runaway auto insurance rates, according to Assemblyman Frank Seddio.
"New York drivers pay some of the highest auto insurance rates in the nation. It’s time we changed that," Seddio said. "Joint conference committees are the best way to make pro-gress on this legislation so that we can drive down insurance rates and enact strong anti-fraud measures that benefit all New Yorkers."
In addition to Assembly Insurance Committee Chairman Alexander "Pete" Grannis the Assembly’s auto insurance reform insurance conference committee team includes Assembly-members Adele Cohen, Aurelia Greene and Audrey Pheffer.
The Assembly’s comprehensive auto insurance reform bill, which Seddio supported, would help provide New York’s working families with im-mediate relief from skyrocketing auto insurance costs.
"New York’s auto insurance rates have soared over the past several years because scam artists are exploiting the state’s no-fault insurance law," Seddio explained. "The Assembly’s legislation cracks down on individuals who engage in fraudulent schemes and holds insurers more accountable for their rates."
• Establishes an independent Of-fice of Consumer Advocate to safeguard auto and health insurance consumers;
• Requires insurers who do not reduce their no-fault premium rates to provide the rate Insurance Depart-ment with a detailed explanation justifying their inability to lower rates;
• Creates felony level for ‘runners’ – individuals who recruit clients and facilitators to stage accidents for the purpose of scamming insurers; and
• Provides for stricter accounting of medical costs incurred under the no-fault program.
"If the Senate is serious about enacting real reforms and doing what’s right for motorists, joint conference committees are the best way to partner with the Assembly to advance this important legislation," the legislator concluded.