The National Insurance Crime Bureau is a not-for-profit organization that partners with insurers and law enforcement agencies to aid in the identification, detection, and prosecution of insurance criminals. Claims sat down with the organization's chairman, Mark Russell, to find out how adjusters can better utilize this resource.
You partner with more than 1,000 property/casualty insurance carriers. Why is this sharing amongst competing companies important?
Information sharing between companies, law enforcement, regulators, and consumers is the only way to make any ground against insurance fraud and vehicle theft. By now, we have all heard that insurance fraud is a huge problem that costs consumers and businesses in excess of $80 billion. In fact, it's the second leading white-collar crime; only tax evasion is larger. This type of fraud has even led to the deaths of innocent people in arson and staged auto accidents, so we must work together to put an end to the practice.
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