iFraud Deep Dive
Welcome to iFraud Deep Dive, an official podcast series of the iFraud Foundation — where we tackle the toughest issues facing the property and casualty industry in the fight against fraud.
Each episode features in-depth conversations breaking down complex issues into easily consumable information that we can all understand. We explore the fraud landscape, expose emerging threats, and highlight actionable solutions. From staged accidents and collusive networks to litigation abuse and regulatory gaps, we go beyond the headlines to bring you the insights that matter.
Whether you’re a carrier, broker, employer, attorney, or regulator, if you’re committed to protecting the integrity of our industry then this podcast is for you.
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iFraud Deep Dive
S2 E25 The Proposed NY Fraud Act
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On this episode of the Deep Dive we’re breaking down a piece of proposed legislation that could mark a turning point in New York’s fight against staged accidents and fabricated injury claims — the FRAUD Act.
As insurance premiums continue to climb, lawmakers are zeroing in on one of the most persistent cost drivers: organized construction site schemes and orchestrated motor vehicle collisions designed to exploit the system. The FRAUD Act would elevate intentional fabrication of these incidents to a Class E felony, impose restitution and civil penalties, and temporarily bar convicted individuals from collecting insurance benefits.
But this bill goes beyond punishment. It signals a broader shift toward accountability — requiring greater cooperation between insurers and law enforcement and reinforcing that fraud is not a business strategy, it’s a crime.
In this episode, we’ll examine what the legislation actually does, what it means for policyholders and employers, and whether it has the teeth to meaningfully impact New York’s liability landscape.
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