Friday, October 23, 2020
Home Insurance Maryland Auto Insurance Launches New Auto Insurance Fraud Initiative

Maryland Auto Insurance Launches New Auto Insurance Fraud Initiative

Maryland Auto Insurance coverage has launched an initiative aimed toward combatting auto insurance coverage fraud in Maryland.

This comes because the FBI initiatives insurance coverage fraud accounts for greater than $40 billion in prices yearly, in line with a Maryland Auto Insurance coverage press launch.

“Maryland Auto has a proficient fraud investigative group, and it’s one thing that we take very critically,” mentioned Maryland Auto Insurance coverage Govt Director Al Redmer Jr. within the launch. “We’re going to dedicate much more time and a spotlight in an effort to verify we’re partaking in greatest practices to scale back our publicity much more.”

Previous to becoming a member of Maryland Auto Insurance coverage as government director, Al Redmer Jr. served as Maryland’s longest tenured insurance coverage commissioner.

“As Commissioner, I noticed the monetary prices that each one of us pay as a result of vital quantity of insurance coverage fraud that happens on daily basis,” he mentioned within the launch.

Claims Supervisor William Buck, who oversees Maryland Auto’s Particular Investigations Unit, is main the brand new fraud initiative. The unit will focus its efforts on figuring out the commonest components present in fraudulent coverage purposes and claims.

The initiative can even embody a concentrate on inner and exterior training. Further coaching will likely be supplied for adjusters and academic materials for customers can even be developed.

“Via our collective efforts, we will put a wall up towards fraudulent actors whose actions have led to elevated premium prices for the general public and make it troublesome for us to fulfill our total purpose and mission of decreasing the uninsured inhabitants in our state,” Buck mentioned within the launch.

Redmer indicated within the launch {that a} level of emphasis for Maryland Auto’s fraud prevention group is to discourage non-Maryland residents from acquiring Maryland Auto insurance policies. Maryland statute requires all Maryland Auto policyholders to be residents of the state, with both a Maryland driver’s license or a automobile registered in Maryland, the discharge defined.

“Now we have individuals shopping for Maryland Auto insurance policies who can’t find Maryland on a map,” Redmer added within the launch. “We’re going to have a laser concentrate on stopping non-residents from fraudulently buying protection by means of Maryland Auto.”

Maryland Auto Insurance coverage is a mission-driven firm devoted to decreasing the variety of uninsured drivers on Maryland roadways by offering accessible, inexpensive insurance coverage to drivers who at the moment are unable to acquire protection from commonplace carriers. Maryland Auto was established in 1972 by the state to guard its residents from the dangers and prices related to uninsured driving.

Supply: Maryland Auto Insurance coverage

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