The California Fair Claims Settlement Practices Regulations Webinar
This webinar covers the California Fair Claims Settlement Practices Regulations and allows the attendee to certify to any insurer that he/she has been trained on the regulations. That certification must then be maintained by the insurer to present to the California Department of Insurance (CDOI) if required.
The state of California requires all insurers to train its claims personnel on the Fair Claims Settlement Practices Regulations annually and no later than September 1 each year. The California Fair Claims Settlement Practices Regulations state the minimum standards for the investigation and settlement of insurance claims in California.
Why Should you Attend:
Insurers must ascertain that every employee in¬volved in any way in the claims process is trained about the Regulations or has submitted a sworn statement that he or she has read and understood the Regulations. The Regulations even require that the insurance claims managing executive attest, under oath, that each employee has been trained with regards to and/or understands the Regulations. This requirement must be complied with in order to avoid the possibility of administrative penalties upon the insurer or prosecution of the officer for perjury.
Objectives of the Presentation:
- The reasons behind the California Regulations
- The California Fair Claims Settlement Practices Regulations
- The rights of the CDOI to enforce the regulations
- The use of the regulations in Trial
- The regulations and the courts