When a vehicle is deemed a total loss, it can take days or weeks for the auto insurers to notify and pay the lienholder.
A new Verisk product expansion can help auto insurers more efficiently file SR22 forms with state authorities to confirm drivers have required coverage.
Verisk is rolling out CV-VaaS (Verification as a Service) to connect key information between lenders and insurers via a new contributory database.
Commercial auto insurance has varying state regulatory mandates for reporting auto liability insurance. What should insurers do where reporting is optional?
Lienholder and additional interest notifications, returned mail, producer notifications, and escrow invoices can move faster if insurers have the right tools.
Auto liability insurance reporting (ALIR) requirements help regulators in many states to match coverage to vehicles, but they’re a heavy burden on insurers.
Alabama is seeing results from an initiative to reduce uninsured drivers through its electronic DMV automobile liability program.
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