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NICB launches text message tip service for insurance fraud

Posted On Tue, November 24, 2009

One of the many things that can affect insurance quotes for everybody is the losses incurred by companies through fraud.

In order to help fight insurance fraud, the National Insurance Crime Bureau has launched a system that will allow cell phone users the ability to text message fraud tips. People who want to send a tip can text message the word "FRAUD" to TIP411. Concerned citizens can send their tips without providing any personal information.

Joe Wehrle, president of the NICB, said the system provides for a new, immediate way to report potential cases of fraud.

"We are pleased to bring this service to the nation and urge people to help us in our efforts to keep their insurance costs down by using this technology to report fraudulent activity and vehicle theft," Wehrle said.

According to estimates from the Insurance Information Institute, losses from fraud cases cost property and casualty insurers around $30 billion every year, which leads to higher premiums for everyone. Furthermore, some cases of fraud may be increasing due to the recent economic downturn the country has faced.

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