JERSEY CITY, N.J., March 31, 2009 — ISO ClaimSearch®, the property/casualty insurance industry’s comprehensive claims information system, announces the development of a new regulatory compliance service: the ISO ClaimSearch NMVTIS Compliance Reporting Service.
Effective today, insurers, salvage companies, junk yards, recyclers, and shredders are required to report total-loss and salvage information to the National Motor Vehicle Title Information Service (NMVTIS). ISO ClaimSearch has been designated an authorized data consolidator by NMVTIS, which allows insurers, salvage companies, and others to report the required data to ISO ClaimSearch to comply with the requirement.
ISO ClaimSearch will include the NMVTIS reporting as part of its regular service for insurer participants in the auto segment of ISO ClaimSearch at no additional charge. Noninsurer companies can also report through ISO ClaimSearch for a fee.
By reporting to NMVTIS through ISO ClaimSearch, insurers can:
NMVTIS was established by the Anti-Car Theft Act of 1992 to assist in preventing the introduction or reintroduction of stolen and salvaged motor vehicles into interstate commerce. NMVTIS provides authorized recipients with instant and reliable access to motor vehicle titling information maintained by the states. It is operated under the auspices of the U.S. Department of Justice.
For more information on the ISO ClaimSearch NMVTIS Compliance Reporting Service and data reporting requirements, please contact ISO ClaimSearch Customer Support at 1-800-888-4476, or send e-mail to email@example.com.
About ISO ClaimSearch
ISO ClaimSearch serves thousands of participants, supporting their claims-adjudication and fraud-detection activities. Participants include insurers representing 93 percent of the property/casualty insurance industry; hundreds of public and private self-insureds, including municipalities, government agencies, and Fortune 500 companies; 26 state workers compensation insurance funds; 480 third-party administrators (TPAs); several state fraud bureaus; and many law enforcement agencies involved in investigation and prosecution of insurance fraud. The system also provides a range of compliance support functions to assist participants in meeting mandatory and voluntary reporting requirements in many jurisdictions.
A leading source of information about risk, ISO provides data, analytics, and decision-support services to professionals in many fields, including insurance, finance, real estate, health services, government, human resources, and risk management. Using advanced technologies to collect, analyze, develop, and deliver information, ISO helps customers evaluate and manage risk. The company draws on vast expertise in actuarial science, insurance coverages, fire protection, fraud prevention, catastrophe and weather risk, predictive modeling, data management, economic forecasting, social and technological trends, and many other fields. To meet the needs of diverse clients, ISO employs an experienced staff of business and technical specialists, analysts, and certified professionals. In the United States and around the world, ISO helps customers protect people, property, and financial assets.