To protect these interests it is essential that insurers
fully inquire into all possible bases that might support the insured's claim.
Another course pursued by hull and marine insurers
entails prosecution of a shipper when a catastrophic loss can be traced to its cargo.
With today's enormous computing capacity and sharply declining data-storage costs, data warehousing detailed BI claims settlement information is eminently possible.Amassing BI data can help insurers
meet the fairness-consistency challenge of settling claims in several ways.
At its worst, it's the legal equivalent of Abbott and Costello's "Who's on First," which can seriously impede the insurer
's ability to bring the litigation to a successful resolution.
have additionally questioned coverage for costs associated with government and regulatory inquiries.
46.4374-1(b), the liability for the FET attaches when the premium payment is transferred to the foreign insurer
or reinsurer (including transfers to any bank, trust fund or similar recipient, designated by the foreign insurer
or reinsurer), or to any nonresident agent, solicitor or broker.
Credit scoring by insurers
is similar to, but not the same as, credit scoring used by consumer credit agencies, as insurers
place different weights on different factors than do credit agencies.
To lure overseas insurers
, the bill eliminates regulatory obstacles.
Class 2 Insurers
. A company must register as a class 2 insurer
if it is wholly owned by at least two unrelated persons (i.e., persons that are not members of the same group) and if at least 80 percent of the risks written (computed on the basis of net premiums) are risks of its owners or any affiliates of its owners.
Most larger insurers
are rated by more than one service, although few are rated by all.
(Not all insurers
use the same coding schemes.) If keeping track of these codes doesn't cause vertigo, personal and other ID codes will: Each doctor, clinic, and hospital has its own state license number, private insurance provider code, CHAMPUS code, VA code, FECA code, Indian Health Service provider code (if you happen to treat an American Indian), and federal tax ID code.
* Life insurers
hold about $4.2 trillion in securities, or about 12% of total investments in the U.S.