Meeting Increased Compliance RequirementsBy Kate O'Kelly | July 26, 2012
For many years, ISO ClaimSearch® has provided compliance reporting support to participating insurers by automatically reporting fires and auto theft and salvage to the appropriate state agencies (state fire marshals and fraud bureaus).
In recent years, increased reporting requirements have challenged insurers by adding considerable pressure to their day-to-day claims operations. Since 2009, auto insurers and others have had to provide details about total-loss vehicles to the National Motor Vehicle Title Information System (NMVTIS). Such efforts help to prevent the introduction or reintroduction of stolen motor vehicles into interstate commerce, protect states and consumers from insurance fraud, and provide protection from unsafe vehicles.
In an effort to increase collections of delinquent child support, some states now require claim departments to attempt to identify claimants who are delinquent obligors by reporting bodily injury claims to the federal Office of Child Support Enforcement (OCSE) and/or the multistate Child Support Lien Network (CSLN). Most recently, new requirements for reporting bodily injury claims filed by Medicare recipients to the Centers for Medicare and Medicaid Services (CMS) aim to help recover Medicare payments for which other entities are properly responsible.
The good news is that participating insurers can choose to have ISO handle reporting requirements for them. In some cases, states have named ISO ClaimSearch as a designated reporting service for certain types of claims. ISO and ISO ClaimSearch constantly seek to support participating companies in satisfying regulatory requirements. ISO will continue to keep up with new regulations and provide compliance support services on behalf of participating companies.
This article is part of the State of Insurance Claims series
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