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> Press Release
. . . . . . NEWSMAINE BUREAU OF INSURANCE
November 17, 2005
Augusta, Maine: Superintendent of Insurance Alessandro A. Iuppa warns consumers in the market for a used car to be on the alert for flood-damaged vehicles that may have come from the storm battered Gulf states. “As a result of Hurricanes Katrina and Rita, thousands of submerged vehicles abandoned in Louisiana, Mississippi, Alabama, and Texas were shipped to other parts of the country through car wholesalers. Consumers should be aware that potential problems could surface with these vehicles and they should take steps to protect themselves from fraud. Although a car may look perfectly fine on the surface, flood damage can compromise a vehicle’s computer and safety systems posing significant safety hazards to the new owner,” cautioned Superintendent Iuppa. One tool that is available for the public to use in order to become better informed is a database created by the National Insurance Crime Bureau (NICB). To protect the public from fraudulent sellers, the National Insurance Crime Bureau has created an online searchable database of motor vehicles that were damaged by Hurricanes Katrina and Rita. “The NICB database is an excellent starting place for consumers who are considering the purchase of a used car,” stated Iuppa. “Consumers can go to www.nicb.org and search the regularly updated database free of charge by searching on the VIN number of a vehicle to see if there is a match.” Additional precautions that consumers can take to protect themselves from fraud are to shop at reputable dealerships and do a careful inspection of the vehicle or have a qualified mechanic thoroughly perform an inspection to look for signs of water damage. The Bureau of Insurance is part of the Department of Professional and Financial Regulation which encourages sound ethical business practices through high quality, impartial and efficient regulation of insurers, financial institutions, creditors, investment providers, and numerous professions and occupations for the purpose of protecting the citizens of Maine. Consumers can reach the Bureau through its web site at www.MaineInsuranceReg.org; by calling 800-300-5000 in state; or by writing to Bureau of Insurance, 34 State House Station, Augusta ME 04333. Last Updated: May 24, 2011 |
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