In uncertain times, look to cut costs

Personal injury claims reform has been put off again, and whether the new government will pursue reform is unclear. When the Prisons and Courts Bill 2016-17 (HC Bill 170) was scrapped, so were fixed tariffs to cap compensation payouts for whiplash injuries. That’s a blow to efforts to eliminate fraudulent and exaggerated claims from the […]

New Jersey proof-of-insurance requirements

New Jersey law requires every driver or operator of a vehicle to have a registration certificate and an insurance identification card on hand at all times. The state issued a Motor Vehicle Advisory on March 21, 2017, indicating that motorists may provide either electronic or paper insurance identification cards as proof of insurance. Cell phones, tablets, […]

Surprising Trends in Auto Claims Frequency and Severity

Indications are Americans will drive more but crash less—welcome news. Yet despite the decrease in the number of accident claims, auto insurance loss costs are mounting. That’s because claim severity is increasing at a rate that’s outpacing the decline in claims frequency. A number of factors are contributing to losses, and we’re looking at how […]

TN Requests Carriers to Include NAICs on Insurance ID Cards

DOR has informed carriers they are running into problems in attempting to verify NAIC numbers when a motorist contacts them for assistance.  These problems include: Customer doesn’t know or cannot locate the NAIC number The NAIC number isn’t listed on the insurance card. NAIC number is listed on the policy but it is labeled “Customer […]

Tennessee HB 280 Signed into Law

William Haslam signed House Bill 280 into law on March 22.  The bill extends the time given to respond to a Department of Revenue (DOR) request for information regarding motorists suspected of not having proper auto insurance coverage.  Previously the response time was 15 days; it is now 30 days. HB 280 also established a […]

Arkansas HB 2193 Signed into Law

Arkansas Governor William Asa Hutchinson signed House Bill 2193 into law on April 6. The bill repeals the current Insurance Verification Database enacted in 1997 and replaces it with the Arkansas Online Insurance Verification System Act. The Arkansas Online Insurance Verification System Act will facilitate the implementation of an online insurance verification system (OLV). Courts, […]