Insurers must report monthly data on total-loss cars to U.S.

Thursday, March 12th, 2009 Auto Legislation & Regulation

Insurance companies will be required to send monthly data to a federally regulated database reporting vehicles they have classified as total losses, under a new regulation effective April 1. The rule implements a law passed as an anti-fraud measure to prevent cars that had been declared total losses and sold for scrap from being retitled and later sold as working used cars by unscrupulous dealers.


External References & Further Reading
http://www.propertyandcasualtyinsurancenews.com/cms/nupc/Breaking%20News/2009/03/10-AUTOS-dp
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