NAIC Eyes Claims Software After Reports Of Lowballing

Law360, New York (August 27, 2012, 3:04 PM EDT) -- The National Association of Insurance Commissioners will scrutinize the software insurance companies use for claims handling following a consumer group's report that said insurers routinely manipulate such programs to underpay injury claims, Kentucky's insurance regulator said Monday.

The NAIC's market regulation and consumer affairs committee, which is chaired by Kentucky Insurance Commissioner Sharon Clark, is asking software vendors to give presentations on their products at the upcoming NAIC national meeting in November. The Consumer Federation of America's June report said insurers can easily manipulate programs like...
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