National Insurance Crime Bureau and IGS Offer Auto Lenders Full-Service Monitoring of Vehicles

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May 26, 2010, 09:00 ET

DES PLAINES, Ill., May 26 /PRNewswire-USNewswire/ -- The National Insurance Crime Bureau (NICB) and IGS today announce a relationship agreement to offer auto lenders and vehicle finance companies a full-service monitoring solution for their loan portfolios.

IGS, based in Las Vegas, provides skiptracing, asset location and collateral recovery services to many of the nation's largest lenders. NICB will monitor a lender's portfolio of vehicles and provide reports three times a day on vehicles that have been impounded, reported as stolen or recovered, and presented for export. IGS will work with the lender to recover the vehicle in an effort to reduce impound and storage costs or to prevent a vehicle from being exported without the lender's permission.

"IGS is pleased to launch a new service offering whereby IGS will be able to act quickly on behalf of our customers to recover at-risk vehicles by using the NICB database to check on the status of every vehicle in a lender's portfolio on a daily basis, minimizing losses and providing significant savings," said Joshua Elias, president of IGS.

About NICB

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 information analysis, investigations, training, legislative advocacy, and public awareness. The NICB is supported by nearly 1,100 property and casualty insurance companies and self-insured organizations. NICB member companies wrote over $319 billion in insurance premiums in 2009, or more than 78 percent of the nation's property/casualty insurance. That includes more than 93 percent ($151 billion) of the nation's personal auto insurance.

About IGS

IGS, a wholly owned subsidiary of Portfolio Recovery Associates, Inc., is the industry leader in skiptracing, asset location and collateral recovery. The company specializes in locating, assigning out for repossession and successfully recovering collateral for vehicle lenders. With a state-of-the-art operations center in Las Vegas, IGS has access to data systems, advanced communications equipment and an unparalleled network of national repossession agents to produce results for clients.

For further information about this new service, please contact Frank Scafidi, [email protected], 916-979-1510, or John Houston, [email protected],

702-636-4677.

SOURCE National Insurance Crime Bureau