"Zhan Petrosyants, a close friend of Adams, was federally indicted in connection with an alleged scheme to defraud the no-fault insurance system of tens of millions of dollars."
"Hochul's proposal would make it more difficult for crash victims in New York to sue for damages for pain and suffering, based on the premise that jackpot lawsuits and fraud are responsible for rising premiums."
"State lawmakers aren't buying it in large numbers, and the disconnect is one of many issues tying up glacial state budget negotiations."
Zhan Petrosyants, a friend of former Mayor Eric Adams, faces federal charges for defrauding New York's no-fault insurance system. Governor Hochul's proposal to amend lawsuit access for crash victims is based on the belief that fraud and jackpot lawsuits are driving up insurance premiums. However, most fraud cases in New York relate to no-fault insurance, contradicting the governor's claims. Lawmakers are skeptical of the proposal, contributing to delays in state budget negotiations amid various policy debates.
Read at Streetsblog Empire State
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