ISO ClaimSearch, a claim information system for theproperty/casualty insurance industry, has been updated to include aregulatory compliance functionality that will allow insurers andothers to comply with new reporting requirements for total loss andsalvage information.

As of March 31, 2009, insurers, salvage companies, junkyards,recyclers, and shredders were required to report total loss andsalvage information to the National Motor Vehicle Title InformationService (NMVTIS). Since ClaimSearch has been designated anauthorized data consolidator by NMVTIS, it will allow insurers andothers to easily comply with the requirement.

ISO said it will include the NMVTIS reporting as part of itsregular service for insurer participants in the auto segment of ISOClaimSearch at no additional charge. Noninsurer companies can alsoreport — for a fee. According to the company, reporting in thismanner will enable insurers to save on programming costs or thecosts of using an outside vendor; streamline workflow because manycompanies already report data to ISO; and assure themselves fullcompliance with the NMVTIS regulations.