LexisNexis Acquires Gould Publications; Launches Service to Combat Insurance Fraud

Dec 10, 2004


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LexisNexis U.S., a provider of legal, news and business information services, has acquired the editorial assets of Florida-based Gould Publications, a publisher of law enforcement handbooks, CD-ROM courses, Homeland Security publications, and training materials. LexisNexis has also announced the LexisNexis RiskWise Rate Evasion Evaluation. LexisNexis is a member of Reed Elsevier Group plc.

LexisNexis plans to maintain its relationships with Gould's authors who are substantial contributors to the company's product line, including: Nearly 100 titles covering state criminal & vehicle traffic laws and related statutes, such as: California Penal Code Handbook, New Jersey Criminal Law and Motor Vehicle Handbook, and Florida Motor Vehicle Laws. Over 30 national law enforcement handbooks, such as: Court Decisions for Law Enforcement, Defensive Tactics for Law Enforcement, and Spanish for Law Enforcement Field Guide with Audio CD and Homeland Security Enforcement. Twenty-three code products including: Fish and Game Codes, Alcoholic Beverage Control Laws, and Environmental Codes. Many authored titles covering drugs, evidence, search & seizure, report writing, management, and supervision. More than 40 interactive CD ROM training courses such as: High Impact Police Leadership, Law Enforcement Response to Terrorism, and Effective Courtroom Testimony.

LexisNexis has announced the LexisNexis RiskWise Rate Evasion Evaluation, a service that is designed to help insurance providers prevent application and premium fraud by using sophisticated models powered by public records data. Industry studies have shown that the estimated annual cost of insurance fraud is between $85 billion and $120 billion. Many insurance companies have formal anti-fraud programs, but application and premium fraud (or "rate evasion") has proven difficult to stop or even identify. Rate evasion typically occurs when a potential customer or agent falsifies application information to obtain a lower premium. The LexisNexis service is intended to help carriers and their agents address rate evasion, detect fraud or misrepresentation on applications, such as garage address, ownership and/or registration, identity, property characteristics, or an unreported youthful driver or additional drivers in the household.

To combat fraud, LexisNexis Rate Evasion Evaluation is designed to: verify information using multiple databases in either an FCRA or non-FCRA environment; validate and verify that the information provided is real--including personal identity, date of birth, address, phone number, vehicle registration, garage location, vehicle characteristics etc.; identify application misrepresentations during the underwriting process or anytime during the life of a claim; return a customized score that identifies the areas of risk while providing supporting information; and provide results via batch or system-to-system processing.
(www.gouldlaw.com; www.lexisnexis.com; www.reedelsevier.com)