Posted On: April 22, 2005, 2:44 pm CDT

Posted By: Winston

Glen, as a tax paying citizen of New York and an insurance professional in NY for 10 years, allow me to first take this time to thank you and you team for the hard work in combating fraud in New York.

Although I can appreciate your post, it really is not an "answer" to what I was getting at. We all know that fraud is a real issue throughout the country...not just NY.

Glen, obviously a 5% decrease is better that a 5% increase. The point that I was alluding is that the actual stats. is of no justification for the premiums being paid for by New Yorkers in the boros. Glen, auto fraud is a major concern in other states but the difference is that those same states have a lower auto insurance premium across the board--unlike NY. ACCORDING TO BOTH THE NY GOV. AND THE FORMER INS. DEPT. BOSS, AUTO FRAUD ADDS APPROX. $200 TO EACH POLICY (SOME QUOTE ANYWHERE FROM $60-$200). Assuming that these numbers are correct, the average boro. policyholder would then be paying approx. $3,800 w/o auto fraud. AM I THE ONLY ONE HAVING DIFFICULTY WITH PAYING THIS AMOUNT FOR AUTO INSURANCE. HOW CAN YOU SINCERELY JUSTIFY SOMEONE W/O ANY AX/CLAIMS PAYING $2,500-$4,000!?

Additionally, based upon the profits posted by the major carrier in NY for the past few years, rate could have remained constant or even lowered. Based upon the current trends, there is no legitimate reason for increasing rates other that pure profit.

The sad part of all of this is that most people unfortunately just sit back and allow the media and politicians (puppets) to tell them what to think and what formulas to use.