Presentation before NAIC "E" Committee on Large Deductible Workers' Compensation Insolvency issues can be viewed by clicking here.
NCIGF Marks 25 Year Anniversary with Gift to Innovative Butler University Insurance Program
The National Conference of Insurance Guaranty Funds (NCIGF) will mark the organization’s 25th anniversary at its Annual Conference on May 6 with an annual gift of $1000 to Butler University’s Davey Risk Management and Insurance (RMI) Program in 2015, 2016 and 2017. For more information click here
NCIGF Releases SummerInsolvency Trends 2017 White Paper
National Conference of Insurance Guaranty Funds (NCIGF) has released the summer issue of its biannual Insolvency Trends 2017 white paper.
Authored by the NCIGF legal and public policy staff, Insolvency Trends 2017 provides a complete update on recent developments in insolvency law and practice, and a look at what is on the horizon in the year ahead.
The first field of the M Record is "RECORD TYPE" in order to be consistent with the rest of UDS
F Record Claimant Number
The F Record claimant number will allow a default of "00000" for notes filed at the claim level and a claimant association is not available.
UDS G format
Any recoveries or overpayments should be reflected as a negative amount with the proper transactions codes 310, 410 or 820.
UDS B format
The claimant name in the B record should not be left blank. If the claimant is the Insured then the insured name is entered in the field or whoever it should be if the claimant is not the insured.
UDS B format
For the effective, expiration and cancellation date the default value 01/01/1901 works for 800 records as information may not be known at the time. For 815 records information should be available hence no default is allowed.
UDS B format
What do you do when the 815 record has an expiration date with is before the cancellation date. The cancelled policy expired before the order of liquidation was filed for the insolvency. Cancellation date should be the same as the expiration date. The policy ended on the date regardless of the date of the order of liquidation.
ASCII Data in UDS Records
UDS records will allow for any ASCII character from 32-255 decimal. You may reference the following chart for a list of values: http://www.ascii-code.com/
UDS records will not contain any interstitial ASCII control characters (i.e. ASCII chars from 0-31 decimal).
UDS records will designate it's newline (a/k/a "line break" or "end of line") character as the combination of CR+LF (13+10 decimal or \r+\n or "carriage return" plus "line feed").
Interstitial newlines in claim notes should be handled by using the "NOTE LINE SEQUENCE NUMBER". If a newline is discovered within the body of a claim note, the "NOTE LINE SEQUENCE NUMBER" should be incremented by n+1 and a new F Record line should be created. The "NOTE LINE SEQUENCE NUMBER" is used to retain note formatting and to handle a note that exceeds 1000 characters.