An estimated 500,000 cars were damaged by hurricanes last year. Unfortunately, many of these vehicles have been purchased by dishonest auto dealers, cleaned up and then sold, with their flood damage history illegally hidden, according to the Insurance Information Institute.
To prevent this type of fraudulent resale of cars, the National Insurance Crime Bureau has been helping law enforcement groups and insurance companies identify and catalogue vehicles damaged by the 2005 hurricanes.
“By creating a registry of damaged vehicles that consumers can access when purchasing a used car, the potential for this type of fraud can be greatly reduced,” said Robert Bryant, president and CEO of the NICB.
The NICB has compiled a database of vehicles affected by Hurricanes Katrina, Rita and Wilma, so used-car buyers can learn more about the history of the car and whether it has been involved in a claim related to Hurricane Katrina. Consumers can access at: www.nicb.org.
Was this article valuable?
Here are more articles you may enjoy.
Hartford: 10-Year Analysis Shows Shifts in Common, Expensive Small-Business Claims 
One of Highest Property Claims Severity Recorded in Q3 on Low Volume, Says Verisk 
Pierce Named CEO of GEICO as Combs Resigns 
US E&S Outlook No Longer Positive: AM Best From This Issue
