FOR IMMEDIATE RELEASE
DEPARTMENT EXTENDS COMMENT PERIOD FOR FRAUD-FIGHTING REG
Proposed Regulation Public Comment Period Extended By 15 Days
Superintendent of Insurance Gregory V. Serio today announced that the Department has extended the public comment period for proposed Regulation 68 for an additional 15 days to June 22. The Notice of Revised Rulemaking was published in the State Register on May 9 and comments have been accepted since that date.
"The newly revised proposed regulation is a critical component of the Departments sweeping auto insurance reform package. It will ensure that legitimate claims are paid on a timely basis, while fraud and abuse in the current no-fault system is reduced," said Serio. "Due to the importance of this regulation, we have decided to continue to accept public comments. We are committed to providing all interested parties with the opportunity to share their comments about this proposed regulation."
The new regulation institutes new timeframes for accident victims to report a claim and medical providers to submit claims for payment--eliminating existing loopholes that have been exploited as opportunities for fraud and abuse. At the same time, significant consumer safeguards are included by excusing noncompliance with the time frames where there is a clear and reasonable justification. In the past, failure to comply could be excused only in cases where it could be demonstrated that compliance was impossible. Moreover, insurers are required to implement objective criteria to guide reviews of late requests and an expedited arbitration process has been established to resolve disputed claims expeditiously.
Proposed Regulation 68 can be viewed on our Web site at www.ins.state.ny.us. Public comments should continue to be submitted to: Patricia Mann, Insurance Department, 25 Beaver Street, New York , NY 10004, (212) 480-5587 or via email: firstname.lastname@example.org.