Companies looking for an easier way to stay in compliance with state regulations and avoid penalties just got some help from Wolters Kluwer.
According to a release issued today, the company has tweaked its ComplianceWare market conduct research tool to help property and casualty insurers identify requirements that are most often criticized by state examiners.
Historically, issues related to timely claim-handling and the payment of proper amounts to claimants top the list of criticisms from state agencies. Other fines typically stem from insurers using unlicensed adjusters/appraisers, not providing required reasons for claim denials, or failing to supply specific notices.
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