NICB: 2010-2012 Suspicious Personal Property Claims Up 46%

Majority Are Associated with Personal Residences

DES PLAINES, Ill., Oct. 24, 2013 /PRNewswire-USNewswire/ -- The National Insurance Crime Bureau today released a report based on a review of personal property questionable claims (PPQCs) submitted from January 1, 2010 through December 31, 2012. The three-year average of 72 percent of these claims was associated with homeowners' policies indicating that personal residences were where the majority of these suspicious claims occurred.

In 2010, a total of 13,670 PPQCs were submitted to NICB. That number increased to 13,934 in 2011 and rose again in 2012 to 19,958—a 46 percent rise from 2010.

The top five states for PPQCs in 2012 were California (2,509), Texas (2,444), Georgia (1,099), Illinois (931) and Ohio (885). The top five cities with the most PPQCs in 2012 were Houston, Texas (358), Chicago, Ill. (322), Detroit, Mich. (281), New York, N.Y. (260) and San Antonio, Texas (231).  

Further analysis of the PPQCs revealed that Monday was the most frequently occurring weekday by loss date in 2010 and 2012 while Tuesday had that title in 2011. Sunday was the least frequently occurring weekday by loss date in 2010 and 2012 with Thursday having that distinction in 2011.

See the full report here.

Anyone with information concerning insurance fraud or vehicle theft can report it anonymously by calling toll-free 800-TEL-NICB (800-835-6422), texting keyword "fraud" to TIP411 (847411) or submitting a form on our website. Or, download the NICB Fraud Tips app on your iPhone or Android device.

About the National Insurance Crime Bureau: headquartered in Des Plaines, Ill., the NICB is the nation's leading not-for-profit organization exclusively dedicated to preventing, detecting and defeating insurance fraud and vehicle theft through data analytics, investigations, training, legislative advocacy and public awareness.  The NICB is supported by more than 1,100 property and casualty insurance companies and self-insured organizations.  NICB member companies wrote $350 billion in insurance premiums in 2012, or more than 78 percent of the nation's property/casualty insurance.  That includes more than 93 percent ($160 billion) of the nation's personal auto insurance.  To learn more visit www.nicb.org.

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SOURCE National Insurance Crime Bureau