NICB’S ‘THE INFORMER’ SPOTLIGHTS NATURAL CATASTROPHES AND AVOIDING POST-DISASTER CONTRACTOR FRAUD

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DES PLAINES, Ill., June 29, 2021 — The National Insurance Crime Bureau (NICB), the nation's leading not-for-profit organization exclusively dedicated to combatting and preventing insurance crime, is pleased to release its latest issue of The NICB Informer. The Summer edition focuses primarily on natural catastrophes and post-disaster fraud issues, investigations, and information resources. The publication is aimed at providing insurance industry executives with anticipatory intelligence to help identify risks and emerging threats to the industry.

“As insurance claims increase in the aftermath of a catastrophic event, so, too, does the opportunity for fraud,” said David Glawe, president and CEO of the National Insurance Crime Bureau. “Sadly, many fraudsters prey on disaster victims at a time when they are emotionally devastated and most susceptible to scam artists who present themselves as concerned contractors.”

While spring is notorious for volatile temperatures and tornadoes, summer brings with it the increased risk for hurricanes and wildfires. In 2020, the U.S. experienced 22 separate weather and climate disaster events where overall damages reached or exceeded $1 billion—the highest number on record. The costliest weather events have historically occurred in the second half of the year.

Also in this edition is a story highlighting the threat of cybercrime, noting that organizations fall victim to ransomware every 14 seconds. Part of the problem is the work-from-home environment as security vulnerabilities are more prevalent.

Readers will also learn about how the opioid crisis is affecting insurance rates. NICB has investigated questionable workers’ compensation claims and staged auto accidents for years in relation to the opioid crisis. In short, NICB field agents discovered a common theme: these criminals want money and pills.

“Insurance touches nearly everything we can think of in our day-to-day lives,” added Glawe.  “As such, insurance fraud follows closely behind, whether it is in the aftermath of natural disasters, cybercrime, or auto theft and accidents, the list is essentially endless.”

Anyone interested in receiving a free digital copy of The NICB Informer can sign up here or send an email to [email protected] to be added to the distribution.

REPORT FRAUD: Anyone with information concerning insurance fraud or vehicle theft can report it anonymously by calling toll-free 800.TEL.NICB (800.835.6422)or submitting a form on our website.

ABOUT THE NATIONAL INSURANCE CRIME BUREAU: Headquartered in Des Plaines, Ill., the NICB is the nation's leading not-for-profit organization exclusively dedicated to preventing, detecting and defeating insurance fraud and vehicle theft through Intelligence & Analytics, and Operations; Education and Crime Prevention; and Strategy, Policy, and Advocacy. The NICB is supported by more than 1,200 property and casualty insurance companies, rental car agencies, auto auctions, and self-insured entities. NICB member companies wrote more than $530 billion in insurance premiums in 2020, or more than 82% of the nation's property-casualty insurance. That includes more than 95% ($236 billion) of the nation's personal auto insurance. To learn more, visit www.nicb.org.

Natural disasters can strike with little to no warning, leaving victims vulnerable as they rebuild their lives. The NICB (@insurancecrime) is proud to debut the Summer edition of The NICB Informer, focused on combating #fraud after a disaster. Read More: www.nicb.org/nicbinformer Tweet