NEW YORK– Fraud is expected to pick up in New York State as the economy worsens and as perpetrators adapt to fraud fighting efforts, state agency investigators said at the annual meeting of the New York Alliance Against Insurance Fraud.
Steve Nachman, deputy superintendent for Fraud and Consumer Services, New York State Insurance Department, said phony automobile theft claims through "owner give ups" have spiked by about 25-30 percent this year, likely due to the economy.
Demonstrating the diverse demographic of those now resorting to such conduct, Mr. Nachman said recently arrested perpetrators have included a New York City police officer, a building inspector, a Department of Homeland Security employee, and a school security guard.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
