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For Immediate Release

CARCO Group Announces New Web Site Focused
on Deterring Vehicle Insurance Fraud

ST. JAMES, NY, May 13, 2004 — A new informational Web site geared to the initiatives and ongoing vehicle anti-fraud programs implemented in various states to deter vehicle insurance fraud, has been developed by CARCO Group Inc., a pioneer and leader in vehicle inspection systems.

The new site, presented under the banner “Winning the Battle Against Vehicle Insurance Fraud,” is located at www.preinsuranceinspection.org. The site provides a wealth of information and “tools” related to the nationwide problems of vehicle crime, in general, and vehicle insurance fraud, in particular, with information essential to developing a heightened awareness of the problem and an understanding of the role of effective deterrents.

For the first time, legislators, law enforcement and insurance industry professionals, as well as the general public, will get an inside view of the problem, an accurate and informative view of the pre-insurance vehicle inspection process, a close look at how inspection programs work, and how physical inspection deters a host of frauds that would otherwise force insurance rates up.

According to Phil Crepeau, one of the site’s content experts, “While a number of Web sites do a commendable job in addressing a spectrum of insurance fraud issues, none focus exclusively on the important goal of deterring vehicle insurance fraud, an economic crime of major proportions that affects the cost of insurance for virtually every policy owner.” An acknowledged expert in vehicle-related crime and insurance fraud prevention, Mr. Crepeau is a retired Lieutenant in NYPD’s Organized Crime Control, Auto Theft Division.

Based on recent FBI statistics, a motor vehicle theft is reported approximately every 26 seconds; some of these reports represent real thefts, but many are fraudulent. There is general agreement within the law enforcement community and in the insurance industry that a significant percentage of the reported thefts - between 15 and 25 percent - are attempts to defraud an insurer.

From an economic perspective, vehicle-related crime, including Insurance fraud, continues to be the most costly category of property crime, representing more than half of the country’s $15 Billion in reported Property Crimes: more than $7 Billion a year.

CARCO’s new Web site has been created as a robust, user-friendly environment organized to make the search and retrieval of helpful information fast and easy, with the presentation of text, descriptive visuals, and A-V media.. The new site is equipped to deliver high quality streaming video and interactive audio-visual presentations that the user can view and, where applicable, use as a communications tool within their own organizations and constituencies.

Included in the Main Menu are major content categories including:

Pre-Insurance Photo Inspection - “Clicking On” this category leads the user to a variety of descriptive and authoritative resources related to the broad subject of Vehicle Insurance Crimes, descriptions of unique fraudulent “schemes” and “scams” against insurance carriers - hence against policy owners - and enlightening information about proven deterrents.

Vehicle Crime Data - Included in this content database is statistical data that summarizes the impact of insurance crimes, including fraud, and easy to understand summary charts.

Media Tools and Resources - A variety of recently produced, eye-opening video programs that graphically present the problems associated with vehicle insurance fraud - and viable solutions - that can be viewed on-line, or requested in VHS cassettes can be previewed in this section. Also included are interactive PowerPoint slide shows, the most comprehensive glossary of terminology related to the subject, and other informational resources.

Publications and Press Information - Information related to useful publications that address vehicle insurance fraud, pre-insurance vehicle inspection and other relevant issues are included, along with special press and media information.

URL: www.preinsuranceinspection.org

Media Contact

Hal Denstman
MediaCom Communications
[email protected]