The National Insurance Crime Bureau (NICB) reported a record number of questionable claims in 2011. 100,450 questionable claims in property, casualty, commercial, workers’ compensation, vehicle and miscellaneous categories were referred to the NICB. That is a 19 percent increase from 2009.
In the vehicle category, ‘questionable vehicle theft’ received the most referrals at 11,451 which was a 450 percent increase over 2009.
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Large Number of Agents Expected to Make Carrier Changes
Referrals in other categories were also reported. The full report is available at www.nicb.org. News Release – February 28, 2012, www.nicb.org/newsroom/ news-releases
Deloitte reported that approximately two-thirds of the country’s life and annuity producers it surveyed expect to switch carriers in the next 12 months. Its November 2011 “Voice of the Producer” survey of life insurance and annuity producers showed that 40 percent are not satisfied with support they receive from their carriers with competitive products, customer service support, and new business processing. While the dissatisfaction can create opportunities for insurance companies to take loyalty building measures, it also poses serious threats that must be addressed. Voice of the producer: Life and annuity producer survey; 2011; www.deloitte.com