Issue:  2010-05-10

May 5, 2010

A Great Business

Assembly Insurance Chair Puts New York in the Game on Credit Default Swaps

Appraisal--New York Legislature Closes a Gap

A Promising Future

It is Balloon!

Despite Insurers Lack of Founded Belief in Fraudulent Incorporation, EUONo-Show Results in Suit Dismissal

DETERMINED

From this writers point-of-view however, it seems that every time our good people find ways to identify and attack eradicate insurance fraud, the crooks come up with new and creative mechanisms, ranging from the use of high technology, to a form of gang warfare in certain quarters that uses insurance fraud as its weapon of choice to extort and shakedown carriers and ultimately insureds. New Yorks no-fault auto insurance system is beset by fraud, at 20 percent of every nofault claim paid, according to Dr. Steven Weisbart, chief economist at the Insurance Information Institute (I.I.I.).

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