Proposed Legislation Would Streamline the Claims Settlement Process
NEW YORK (November 26, 2013)—RIMS, the risk management society™, has announced its support for the Claims Licensing Advancement for Interstate Matters Act (CLAIM Act). Introduced to the U.S. House of Representatives, the legislation encourages the National Association of Insurance Commissioners (NAIC) to establish uniformity and reciprocity among states that license insurance claims adjusters.
“Lessons learned from recent natural disasters have reinforced the importance for having a uniformed national licensing for claims adjusters in order to get organizations and individual policy holders the settlements they deserve in a timely and efficient manner,” said RIMS Board Director Carolyn Snow. “RIMS has always focused its attention on the risk management process and will continue to look for ways to improve the system.”
The CLAIM Act calls for the NAIC to adopt and administer a multi-state examination for independent claims adjusters seeking to adjust claims in jurisdictions other than their home states. States without licensing requirements for independent claims adjusters would not be obligated to adopt any such requirements. The change in policy would impact the adjustment of property, casualty, disability, and/or workers’ compensations claims.
RIMS will continue to monitor the progress of the CLAIMS Act and other key legislation that impact the risk management profession. For more information about RIMS External Affairs initiatives, visit www.RIMS.org/externalaffairs.