Archive: Property & Casualty
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Jan 26, 2010
No CommentsInsurers and Credit Information: Still an Issue in the States
Continuing its recent tradition, insurers’ use of credit information is still attracting attention in the states and maintains its status as a “hot topic”. With the nation’s economy as a backdrop, consumer groups and some regulators seek to find ways to mitigate the negative impact that less than optimal credit scores can have on insureds....
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Dec 01, 2009
No CommentsWorkers’ Compensation: Claims “Numbers”
Looking at all the possible moving pieces in an insurer’s workers’ compensation claim process, whether one is reviewing benefit calculations, reimbursements for travel, food, and lodging, or actual state-mandated claim forms, one cannot help but notice “numbers.” From the actual dollar payments to the numbers on the state forms, insurers face challenges in keeping up...
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Nov 12, 2009
No CommentsChallenges in a Forms-Intensive Industry
Property and casualty insurance insurers certainly operate in a dynamic forms-driven environment. Application forms and related forms, notices, and disclosures, as well as advisory organization and proprietary policy forms and endorsements, play key roles in insurers’ underwriting and policy issuance functional areas. On the claims side, it is critical that insurers use current and accurate...
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Oct 22, 2009
No CommentsRecent Developments in Credit Scoring
A consistent “hot topic” in 2009, we continue to see states evaluate the use of credit information by insurers. The New Jersey Department of Banking and Insurance issued Bulletin 09-28 entitled “Insurance Scoring Information” on September 14th. This document, while acknowledging that property & casualty insurers are permitted to use insurance scoring information, cautions that...
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Oct 15, 2009
No CommentsConsumer Protection Dominates Adverse Action Regulation in 2009
Property & casualty lines insurers witnessed multiple changes this year concerning cancellations, nonrenewals, and renewals of personal and commercial lines policies. These changes generally involved providing for additional regulatory structure around this underwriting function including consumer disclosures, and permitted or prohibited reasons. Some specific examples of such activity this year can be found in the...
