For property and casualty insurers, projecting compliance issues that might impact the business of insurance in 2011 essentially requires a “regulatory reflection” of the past year.
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.
Implementation of the Medicare Secondary Payer (MSP) Mandatory Reporting requirements has been pushed back to January 1, 2011. This delay will afford affected insurers more time to understand and prepare for the changes.
As more states join the Child Support Lien Network (CSLN), insurers must be aware of specific insurance claim intercept laws and their impact on claim processes.