In expanding its workers’ compensation services, Insurance Services Office Inc. (ISO) has signed a definitive agreement to enter into an exclusive and perpetual licensing arrangement with HNC Software Inc. to offer Proof of Coverage services provided by ClaimPort Inc., a wholly owned subsidiary of HNC.
The services enable insurers to electronically submit Proof of Coverage reports to those state industrial accident boards that accept electronic submissions.
Although requirements vary by state, reports generally must be submitted when workers’ compensation policies are issued, renewed, modified, canceled or reinstated.
“ISO’s Workers Compensation Information Services already provide a rich array of workers’ compensation insurance solutions, including premium and claims transactional reporting, and services for submitting first and subsequent injury information reports electronically to state accident boards,” said Carole J. Banfield, ISO’s executive vice president for information services and government relations.
In April 2001, ISO began offering insurers Injury Reporting Services — electronic reporting of first and subsequent injury reports to state accident boards — through a strategic alliance with HNC.
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