DAYTON, Ohio-- The Maryland Automobile Insurance Fund (MAIF), created by the Maryland State Legislature to provide insurance coverage for the state's most at-risk drivers, has chosen RiskWise solutions from LexisNexis, an information solution provider, to help screen information provided by applicants and claimants in an effort to proactively identify rate evasion and claims fraud.
By law, MAIF must provide insurance coverage to Maryland residents who possess a driver's license and a registered vehicle if they have been denied coverage by at least two other carriers. This service mandate makes fraud an even bigger potential problem than it is for commercial providers who can more easily deny coverage to suspicious accounts. According to MAIF, almost 50 percent of the cases handled by its Special Investigative Unit involve an element of fraud.
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