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NICB Launches Effort to Prevent Fraudulent Sale of Vehicles Damaged by Katrina

NICB   12 Sep 2005 01:59 GMTPage rating:


Special insurance industry teams will be assisting law enforcement and insurance companies in identifying and cataloging vehicles damaged by Hurricane Katrina to prevent their fraudulent resale to unsuspecting consumers in the future.

Robert M. Bryant, President and Chief Executive Officer of the National Insurance Crime Bureau announced today that he is dispatching special catastrophe teams to Baton Rouge, Louisiana and Mobile, Alabama. The effort is expected to last from six months to a year.

Authorities estimate that thousands of vehicles have received damage from flooding in the New Orleans area alone. That number is expected to grow as claims from Mississippi are processed.

Bryant explained that unscrupulous salvage operators and dealers often try to conceal the fact that vehicles have been damaged by a natural disaster from potential buyers.

In addition to vehicles, NICB is also alerting disaster victims to be aware of the potential for fraud that exists as efforts to repair and rebuild get underway.

NICB is the nation's premier non-profit organization exclusively committed to fighting insurance fraud and vehicle theft on behalf of its member companies, their policyholders and the general public through investigations, information analysis, training and awareness.

For more information on NICB and disaster fraud visit www.nicb.org. To report fraud, call 1-800-TEL-NICB (1-800-835-6422).


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