Enacts the New York automobile insurance fraud and premium reduction act; provides that this act is aimed at reducing insurance fraud and thus lowering the cost of insurance premiums; provides a provision for compensation to a person that reports insurance fraud to the authorities; further provides that this act also increases the penalty for insurance fraud; appropriates $3,100,000 therefor.
Provides a reduction in insurance premium charges for insured volunteer firefighters and emergency personnel for a 3 year period after successfully completing the emergency vehicle operator's course as part of their training.
Provides that any person who provides information to the attorney general, a district attorney or the insurance frauds bureau concerning a fraudulent insurance transaction or with information about a fraudulent insurance transaction that is about to take place may be entitled to an award of forty percent of the action or claim relating to such fraudulent action.
Provides for an increased personal income tax deduction for medical expenses incurred by a New York taxpayer to include medical insurance premiums and long term care premiums.
Provides for reimbursement for certain insurance premiums for certain members of the naval militia, New York air, army national guard, and New York guard.