SHOW ME THE MONEY!; Arm Yourself Against Bad Faith Insurance Delays

Volume 1 / Edition 6

This Week; Focus On: SHOW ME THE MONEY!; Arm Yourself Against Bad Faith Insurance Delays

2 years, 30 phone calls and a partridge in a pear tree later, the seemingly standard motor vehicle accident claim you filed on your client's behalf is still unresolved.

Recently the New York State Senate and Assembly spotlight has turned to bills pending that would amend the Insurance Law to provide policyholders with a private right of action against an insurer who delays or denies a legitimate claim. There could be, under certain circumstances, punitive damages in addition to money due under the policy.

To aid the legal community in contacting insurance companies, below is a link to the official NYS Insurance Department, listing all vehicle insurance company codes and contacts for insurers authorized to conduct business in New York state. (We've also attached a link to NJ Auto Insurance Codes and Company Contacts; our neighboring state's insured apparently like to visit the Big Apple often, and in a hurry.)

http://www.ins.state.ny.us/dmvindex.htm

http://www.state.nj.us/dobifilings.htm

Additionally, it is important to know the information an insurer may have about their insured. (We know you're busy - the "need to know" stuff is highlighted.) We're not sure how and when our readers, individually, may be able to use the below information, but we are sure you should have it.

Many insurers turn to ChoicePoint for the informational needs and insurance risk scoring. ChoicePoint, and the Insurance Services Office (ISO) provide insurers extensive nationwide reports containing a subject's name, address, phone number, credit report, claims history, motor vehicle report, aliases, criminal records, and histories of vehicles.
ChoicePoint, maintains a database called CLUE (Comprehensive Loss Underwriting Exchange). The company uses the information it gathers and maintains for "casualty loss" scoring, claims history reporting, and driving-record reporting. (When a consumer fills out a new auto insurance application, the potential insurer queries ChoicePoint for an insurance score.)
The ISO databases, called the All Claims databases, are for detecting fraud and expediting the claims process. If the ISO sees a series of claims that looks suspicious — for example, the same name appears on all the claims with a different social security number — the company will notify the insurance company and the insurer will investigate. The ISO also has information about any claims that might have ended up in court.
Feel welcome to inquire as to another state's insurance code information. If it's a state that has compiled the information, we have it, and it's yours.
BNI investigators: Street smart; Net Savvy.

I look forward to any comments you may have or and questions I can answer for you.

Sincerely,

Lina Marie Maini
Editor,
The Beacon BulletinCEO,
Beacon Network Investigations, Inc.