The State of Nevada Department of Motor Vehicles is planning to expand its LIVE (liability insurance validation electronically) program to include book-of-business reporting.
The Department of Motor Vehicles implemented LIVE in 2010, allowing the DMV and insurers to exchange policy information electronically. Now, Nevada auto insurers must prepare to submit their full books of business each month to the state DMV.
The state will use the additional information uploads to detect changes in NAIC codes or policy numbers. The book-of-business reporting, however, will not take the place of the original LIVE reporting, which the state already uses to verify coverage.
More states to adopt online Automobile Liability Insurance Reporting (ALIR)
Verisk Underwriting representatives anticipate at least three more states will adopt online ALIR in the near future:
- Alabama — Production should begin January 2013, with online verifications required later that year.
- Idaho — Governor C.L. Otter signed a law creating an online verification system for the Idaho Division of Motor Vehicles, with implementation set to begin in 2014.
- Mississippi — Governor Phil Bryant signed a law creating an online verification system for the Mississippi Department of Public Safety, but the department has not yet released implementation details.
Verisk Insurance Solutions – Underwriting offers CV-ALIR®, from the Coverage VerifierSM Suite of Services, to help insurers satisfy reporting obligations to state departments of motor vehicles.