“Whether its auto theft or medical fraud, insurance crimes are the type of violations that costs not only the defrauded company or person, but all insurance consumers that are forced to pay higher premiums,” said Robert Passmore, PCI senior director – personal lines. “NICB has worked across the country to educate policy makers and law enforcement about insurance crime and how to prevent it. They partner with local law enforcement, district attorneys, regulators and insurance companies to detect and prosecute fraudulent behavior. We congratulate NICB and wish them another 100 years of success.”
PCI is composed of more than 1,000 member companies, representing the broadest cross-section of insurers of any national trade association. PCI members write over $180 billion in annual premium, 38.3 percent of the nation’s property casualty insurance. Member companies write 44.3 percent of the U.S. automobile insurance market, 31.6 percent of the homeowners market, 36.3 percent of the commercial property and liability market, and 42.6 percent of the private workers compensation market.