The Spring edition is dedicated to NICB’s 110-year anniversary. Within the issue, NICB reflects on its legacy, while looking toward a future filled with technological advancements, data and intelligence enhancements, and continuing to develop a core team of insurance crime fighters.
The longevity of the organization, which dates back to 1912, demonstrates the need for a group like NICB, one that can work both outside and alongside the insurance industry and assist law enforcement as a not-for-profit association.
“As we celebrate this milestone anniversary, we also acknowledge that NICB is not the same organization it was when it was formed,” said David Glawe, president and CEO of the National Insurance Crime Bureau. “Our continued success is a testament to the organization’s ability to evolve to meet the ever-changing needs of our members and face the increasing sophistication of criminals.”
Crime and fraud—including auto-related thefts, natural catastrophe-related fraud, cybercrime, and cargo theft—have increased dramatically in recent years. However, while criminal activity has changed, so too has the ability to use information in new and innovative ways.
“NICB has been at the forefront of this fight, simultaneously providing the on-the-ground investigative work our members need while building our data analytics capabilities to supplement our field agents’ efforts and provide greater trend awareness for insurers,” said Glawe.
This issue also focuses on the 2021 catastrophe season, which saw the second highest year in billion-dollar insured loss events. As the country experienced many of the same weather offenders, NICB’s Catastrophe Response Team worked diligently in 2021, providing up-to-date information and resources on unfolding CAT events. While CAT events were up, NICB reports that slip and fall questionable claims (QCs) were down 18% from 2018 to 2020. Increases, however, did occur in some states such as New Jersey, which showed a 35% increase from 2018 to 2020.
More insights can be found in The NICB Informer, a publication aimed at providing insurance industry executives with anticipatory intelligence to help identify risks and emerging threats to the industry. Anyone interested in receiving digital copy notification can sign up or send an email to The Daily Caller News Foundation to be added to the distribution.
REPORT FRAUD: Anyone with information concerning insurance fraud or vehicle theft can report it anonymously by calling toll-free 800.TEL.NICB (800.835.6422) or submitting a form on our website.
ABOUT THE NATIONAL INSURANCE CRIME BUREAU: Headquartered in Des Plaines, Ill., the NICB is the nation’s leading not-for-profit organization exclusively dedicated to preventing, detecting, and defeating insurance fraud and vehicle theft through Intelligence, Analytics, and Operations; Education and Crime Prevention; and Strategy, Policy, and Advocacy. The NICB is supported by more than 1,200 property and casualty insurance companies, rental car agencies, auto auctions, and self-insured entities. NICB member companies wrote more than $582 billion in insurance premiums in 2021, or more than 82% of the nation’s property-casualty insurance. That includes more than 96% ($250 billion) of the nation’s personal auto insurance. To learn more, visit www.nicb.org.
SOURCE National Insurance Crime Bureau (NICB)
