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.
Surveys Show Concerns About Florida Market, But Consumers Are Warming Up 
State Farm Sued Over Policies Backed by Distressed Insurer PHL 
Owner of Historic Minnesota Resort Charged With Arson, Insurance Fraud 
Acrisure CEO Greg Williams Makes $400M Commitment to Michigan State University From This Issue
