ISO’s Enhanced Coverage Verifier

ISO has enhanced Coverage Verifier policy-verification solution with four new services to help insurers manage third-party account relationships more efficiently.

Insurers who report coverage data to the ISO system will be able to use these new services. As part of ISO’s Automobile-Property Loss Underwriting Service (A-PLUS) suite of products, Coverage Verifier Services will provide insurers information for rating and pricing policies based on current and prior coverage experience. The services allow insurers to check current and previous coverages for homeowners and auto, as well as other policy-level information, such as lapsed or suspended policies. Also the automobile liability insurance reporting service satisfies statutory obligations to report auto coverage to state motor vehicle departments. Loss payee reporting helps notify loss payees and additional insureds of policy changes affecting their collateral, while OFAC compliance ensures compliance with the U.S. Department of the Treasury’s requirements to verify all customers against the government’s watch list of terrorists, international narcotics traffickers and those engaged in activities related to the proliferation of weapons of mass destruction.

ISO will provide Coverage Verifier information through ISO Passport.

Web site: www.iso.com