In an attempt to eliminate duplicate fraud filings, ISO (Insurance Services Office), the National Insurance Crime Bureau (NICB) and the National Association of Insurance Commissioners (NAIC) have announced an agreement to streamline the online reporting process.
"This agreement has been a high priority for the NAIC Antifraud Task Force over the last year," Sandy Praeger, Chair of the NAIC Antifraud Task Force and Kansas Insurance Commissioner said in a statement. "This agreement saves insurance companies and fraud investigators time and improves investigative resources for state fraud bureaus. We are already receiving twice as many fraud referrals from property/casualty insurers now that NICB/ISO members are providing reports to the NAIC Online Fraud Reporting System (OFRS) system."
Companies can now file a single report directly to multiple state insurance departments and the NICB/ISO. Starting today, 47 states will accept reports either through the NAIC OFRS or via a direct system connection from NICB/ISO.
"This expansion of NICB's Fraud Bureau Reporting Program, in cooperation with the NAIC and state fraud bureaus, brings us closer to offering a single system where the insurance industry can report suspected fraud and get the data in the hands of people that can make a difference," added NICB President and CEO Joe Wehrle.
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