Rey Becker, the Property Casualty Insurers Association of America’s (PCI) vice president, personal lines, addressed insurance company CEOs, presidents, vice presidents and other senior executives about the ongoing fight against fraud at a recent summit in New York City.
Becker’s speech, entitled “Fighting Insurance Fraud—An Overview of the National Effort,” was presented at the ExecuSummit conference, a group that specializes in hosting issue-oriented, property/casualty insurance conferences that address topics from a broad perspective.
In his speech, Becker highlighted some of the top insurance fraud concerns in various arenas such as onerous legislative proposals and issues surrounding the creation of Auto Theft Prevention Authorities (ATPA) in various jurisdictions, as well as fraud prevention initiatives ongoing through various organizations and claims handing.
“Of particular concern are state legislative efforts to ‘raid’ ATPA funds to plug holes in state budgets, as well as counter productive legislation to mandate so-called, “prompt claim payments,” Becker stressed. “Both harm insurers’ efforts to effectively fight fraud.”
He also spoke about the involvement of the National Association of Insurance Commissioners’ Anti Fraud Subcommittee, which has shown interest in creating an anti-fraud resources survey.
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