CARCO Announces Complimentary NMVTIS with Open Recall Reports for Florida Insurance Underwriters
Only forty-three percent or 18 million airbags out of the 42 million recalled have been replaced, according to the National Highway Traffic Safety Administration. CARCO is providing this service to participate in helping make the public safe in alerting them to open recall data. In a recent report by ABC Action News, 780,000 vehicles with unfixed safety recalls are either for sale or on the road in the Tampa Bay area alone! Takata Corp’s defective air bags have been linked to 278 injuries per figures released by Reuters and referenced by Senator Bill Nelson.
CARCO announces that it is offering complimentary portal access for insurance clients to run Open Recall alerts within its NMVTIS reports for a limited time. Sign up by June 15, 2018 and receive unlimited access for a limited time.
This informs Floridians and enables carriers to help protect them, promote their safety and help to identify and keep unsafe vehicles off the roads, thereby reducing risk, cost containment and claims losses.
Overall, an estimated 30% of vehicles on the road today have an open recall!
Will Pagan, senior vice president and general manager at CARCO Group, stated, “We extend support to our carriers in an effort for them and their insureds to reduce the risk of the dangerous situations caused by open recalls in general and the Takata airbag recall in particular.” He continued, “While the price for these reports for institutional clients is less than fifty cents each, the magnitude of this situation has us going all in with our underwriters in Florida to ensure open recalls - particularly Takata airbag recalls - are identified so they can be properly repaired.”
In addition to the titling and branding information that consumers and insurers have come to rely on including; trim level, state(s) of titling, odometer reading at time of titling, branding information (i.e. “Flood” or “Salvage” vehicle), open recall data will now be presented in the NMVTIS report, giving our clients additional important information about the vehicle; including open Takata airbag recalls.
Created by federal law, the National Motor Vehicle Title Information System (NMVTIS) system is the only publicly available system in the country that requires all insurance carriers, auto recyclers, junk and salvage yards, and states to report vehicle title history information. NMVTIS data is also required in the state of California to comply with AB1215.
Reports typically include title “Brand” information that may uncover a previously-unknown “Salvage” or “Flood” vehicle. To take advantage of this complimentary offer, Florida underwriters may contact Rob Winthrop at rwinthrop(at)carcogroup.com to be set up in the NMVTIS portal.
For over 40 years, CARCO has provided businesses with the tools necessary to protect its clients from a variety of risk events and fraudulent activities that can expose the company and its bottom line.
A Cisive company, CARCO is one of four divisions:
1. Fraud prevention Pre-Insurance Inspection & Risk Monitoring Services Division
2. Driver iQ a Trucking Industry Background Screening and Monitoring Division
3. Background Screening, Employee Onboarding and Monitoring Services Division
4. Global Executive Intelligence Division