With a number of recent regulatory changes impacting the area of automobile claims, insurers should take stock of the requirements to help ensure they continue to remain compliant.
The insurance industry witnessed a high level of legislative and regulatory activity last year, including significant activity related to automobile claims. Various states made changes in areas such as required total loss disclosures and processes, fraud warnings on claim forms, and liability limits disclosures. As a result, automobile insurers have been required to implement claim system changes to incorporate new or revised forms and process steps in order to remain compliant.
As you assess your organization's compliance with changes that have occurred over the past year, it can be helpful to break down some of the most noteworthy activity by claim topic.
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