Organized fraud is extremely difficult to detect, particularly because schemes have become increasingly complex. According to the Insurance Information Institute (I.I.I.), the National Insurance Crime Bureau (NICB) released data showing that questionable claims referrals related to organized insurance fraud grew 47 percent from 2008 to 2011, reaching 3,146 questionable claims referrals in 2011. The NICB [...]
Claims adjusters need to make claimants whole. They also need to reach a closure rate of 100 percent and still find cases of comparative liability. The balancing act can be difficult. Watch this video to learn how the ISO Claims Outcome Advisor® platform can help adjusters use technology to handle claims consistently, apply their experience [...]
The official start of hurricane season is only a few weeks away. As you prepare for the June 1, 2013, reinsurance renewal, don’t forget about your industry loss warranty (ILW) cover — and how you can make it more effective. In several ILW agreements, Property Claim Services® (PCS®) has found that the perils do not [...]
The Department of Justice (DOJ) has begun auditing insurer National Motor Vehicle Title Information System (NMVTIS) reporting. Failure to comply with reporting requirements can result in a $1,000 fine for each unreported vehicle identification number (VIN). You don’t need to take that risk. If your company is an ISO ClaimSearch® auto participant, you can report [...]
It’s tough to talk to an employee when you can hear the music coming through her iPhone earbuds. On the other hand, she’d say that an e-mail — or more likely, a text — would solve the problem. You wouldn’t have to communicate face to face for a simple request. Seniority usually wins in such [...]
The March 2013 CoreLogic National Foreclosure Report stated that more than 1 million homes are in some stage of foreclosure. Here are a few more March 2013 foreclosure insights: Completed foreclosures rose from 52,000 in February 2013 to 55,000 in March, an increase of 6 percent. The five states with the largest number of completed [...]
