Claims

Millennial impact: Preparing for the generational shift in workers’ comp

Workplace demographics are rapidly changing, and if insurers don’t prepare, they’ll face significant challenges. Millennials will make up 75 percent of the workforce by 2025. [1] For insurers, this...

Minor changes in newly released Medicare Secondary Payer Recovery Portal User Guide

The Centers for Medicare and Medicaid Services (CMS) has released an updated version of its Medicare Secondary Payer Recovery Portal (MSPRP) User Guide (Version 4.2). The changes are minor and...

Decrease in uninsured drivers—Minnesota

Minnesota The Duluth News Tribune reported a decrease in the number of uninsured drivers in Minnesota. State records show the number of people charged with not carrying auto insurance has dropped b...

West Virginia Online Verification System (WVOLV)

West Virginia “The WV Division of Motor Vehicles (WVDMV) is establishing an online insurance verification program (WVOLV) to be used by law enforcement, the judicial system, and DMV,” the division...

Alaska Insurance Verification System (AKIVS)

Alaska Alaska Statute 28.22.031 generally calls for the Alaska Division of Insurance’s development and implementation of a system for automobile liability insurance reporting (ALIR). The state chos...

Law Firm Reaches Settlement with U.S. Department of Justice to Reimburse Medicare Conditional Payments and Start Internal MSP Compliance Program

The United States Department of Justice (DOJ) for the Eastern District of Pennsylvania has issued a news release reporting that a Philadelphia personal injury law firm has agreed to pay the...

Court Denies “Double Damages” under the MSP’s Private Cause of Action

Currently, there are two questions being litigated that involve who can sue under the Medicare Secondary Payer’s (MSP) private cause of action (PCA) provision and when “double damages” may apply. I...

Arizona Tweaks its "Full & Final" Workers' Comp Settlement Law - New Law Provides Opportunities to Settle Workers' Comp Claims

On October 31, 2017, Arizona Senate Bill (S.B.) 1332 became law allowing Arizona claims payers to reach “full and final” settlements of certain workers’ compensation (WC) claims. This new law...

Blockchain: Getting Smarter than Smart Contracts

Admittedly, my interest in blockchain has been fairly narrow. Given the role of PCS® in the global industry loss warranty ( ILW ) market, I’ve been particularly focused on how blockchain-enabled...

Will Catastrophe Bonds Experience a “Retail Revolution”?

During a track at the IFoA Asia Conference 2018 last week, a speaker laid out a “future state” vision that included access to insurance-linked securities (ILS)—or at least some version of ILS—for...