Forbes magazine has released its annual list of the most stolen models of cars, which is compiled using the National Insurance Crime Bureau Hot Wheels Report statistics. According to a spokesperson for the National Insurance Crime Bureau, Frank Scafidi, though many people would imagine that the struggling economy would lead to an increase in street crime, “There is no empirical data to make that kind of broad statement,” so the organization is working to try to minimize that assumption. The FBI’s crime division’s statistics actually showed that 2010 had the…
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NICB reveals top cities and states known for suspicious insurance claims
The National Insurance Crime Bureau (NICB) has released a report that has indicated that almost half of all of the suspicious property/casualty insurance claims made to insurance companies come from California, New York, Texas, Florida, and Michigan. In fact, those five states alone make up 49 percent of the total number of “questionable claims” in the entire country, according to the NICB’s calculations, as presented in the report. The NICB’s definition of a questionable claim is one that is passed on to the NICB by insurance companies who are members…
Read MoreNew York is fraught with insurance fraud
According to a new report by the National Insurance Crime Bureau (NICB), Buffalo, New York, is home to a staggeringly high amount of questionable medical insurance claims. Second only to New York City, Buffalo adds to the states already extensive history of insurance turmoil. The report takes into account all occurrences of claims that have been found as “faked or exaggerated,” as well as instances of “excessive treatment.” The 7,026 questionable claims were filed throughout the state last year. Buffalo accounts for 145 of those, with New York City taking…
Read MoreQuestionable claims activity on the rise
Insurance companies reported that ever since 2008 there has already been an increase of twenty four percent in suspicious claims. In that same year, over 74,146 questionable claims were discovered. A questionable claim is picked out when detected by fraud indicators used by the industry that may cite up to 7 reasons in each claim that may cause reason to be red flagged. These cases were then passed on to the National Insurance Crime Bureau (NICB) and were examined, compared and matched to prior incidents from other member insurance companies. Upon…
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