Regulations

Question 1

How many days to insurers have to accept or deny a claim in whole or part?

Answer 1

Immediately but no more than 40 calendar days.

Question 2

If an insurer needs additional time to accept or deny a claim he must let the insured know in writing every ______ days

Answer 2

30 calendar days

Question 3

Insurers have to provide written notice of statute of limitation _______ days prior to the expiration date; exception: if notice of claim is received within that 60 days insurer is to notify insured ______ days prior to expriation

Answer 3

60

30

Question 4

After accepting a claim in whole or in part an insurer has _____ days to pay the claim

Answer 4

30

Question 5

After receiving communication from DOI how many days does the insurer have to responde

Answer 5

Immediately but no more than 21 calendar days

Question 6

After receiving communication from a claimant an insurer has _____ days to responde

Answer 6

Immediately but no more than 15 calendar days

Question 7

Upon receiving notice of claim an insurer has _____ days to do what?

Answer 7

Immediately but no more than 15 calendar days;

1. Acknowledge receipt of the claim
2. provide claimant necessary forms, instructions and reasonable assistance
3. Begin investigation of the claim