As industries across the board adopt artificial intelligence (AI), insurers have likewise recognized its potential to enhance efficiency in claims administration. Yet with this opportunity comes tension: consumers expect both...more
The Fair Claims Settlement Practice Regulations set forth the relevant time limits for claims handling responses and determinations. The most important time limits are: 15 days to acknowledge receipt of claim (10 Cal. Code...more
Casualty insurers doing business in the state of New York that wish to deny coverage on a claim for death or bodily injury are subject to the timing requirements set forth in New York Insurance Law (NYIL) § 3420(d)(2), which...more