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Claims Q&A: Wolters Kluwer Explains 'Regulatory Gripes'

Meeting timely claims handling requirements requires consistent adherence to policies and procedures.

By Christina Bramlet | Updated on October 16, 2013

Market conduct exams and investigations performed by the respective state insurance departments can be immensely valuable to p&c insurers, on many levels. For one, they provide performance clues and help measure the extent to which carriers are compliant with the dizzying array of modified and emerging laws and regulations. Although activity and oversight tend to vary among states, there are many commonalities.

Moreoever, they seem to share many of the same compliance criticisms pertaining to key areas of the insurance business. When the experts at Wolters Kluwer sifted the latest wave of market conduct exam data, they found that regulators across the U.S. perceived deficits in claims handling, underwriting practices, and other areas.

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