The U.S. insurance industry’s top compliance shortcomings relate to claims handling noncompliance, including timeliness, required disclosures, payments and grievance and appeal processes—as well as underwriting, rating and insurance producer and sales issues. That’s according to a review by Wolters Kluwer …
Claims errors continue to be the most frequent reason that property/casualty insurers are cited by regulators when responding to market conduct complaints or during routine examinations, according to a report by Wolters Kluwer Compliance Solutions. Kathy Donovan, lead researcher for …
Mistakes by claims professionals were the most common reason for enforcement actions taken against U.S. property and casualty insurers in 2018, taking the No. 1 and No. 2 spot on a top 10 list issued by the Wolters Kluwer consulting …
Untimely claims handling and failure to provide required compliant claims, underwriting, and policyholder service disclosures are the U.S. insurance industry’s top compliance shortcomings. That’s according to a review by Wolters Kluwer of U.S. insurers’ market conduct actions published by state …
