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Vol. 40 | November 2020
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Identify Errors by Policy and Claim Numbers
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Several years ago, NISS introduced a new option for reporting Excess losses. As part of that new feature, Claim and Claimant Number fields were added to Voluntary Auto, North Carolina Auto (AQR), and Assigned Risk Auto (ARP).
NISS now includes the information in the Claim Number field on the Data Quality Reports for the above mentioned lines of business. Companies can also report the Policy Number in the Claim Number field on premium records (or loss records if you are not taking advantage of the new Excess reporting option) to see the numbers displayed on the Data Quality Reports. Then, when you are identifying specific errors from the Data Quality Reports, you can see exactly which record contains the error by checking the Policy Number or Claim Number on specific records.
We hope companies will find this helpful as we continue to try to provide useful resources to keep the reporting process as simple as possible.
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AIPSO Quota Determination Data
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One of the reports NISS sends on behalf of our member companies is the Residual Market Participation Quota Determination (Plan B), which is sent to AIPSO on November 15th each year. Companies that write voluntary automobile policies are required to write a proportional number of residual market automobile policies, and AIPSO determines your company’s quota based on the data NISS sends on your behalf.
In order to avoid receiving an incorrect number of assignments from this quota determination, it is essential that the data submitted to NISS is accurate. As NISS reviews data prior to submitting to AIPSO, we work with your company representatives to ensure accuracy. After NISS submits the appropriate data to AIPSO, each member company receives a copy of the data sent on their behalf for review. If discrepancies or inaccuracies are discovered, or if AIPSO contacts a member company with an inquiry, please contact NISS.
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About Us
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NISS is a unique resource for the property/casualty insurance industry. We
collect and report timely,
quality insurance data and perform other related functions at a reasonable
cost.
For more information, please visit
www.niss-stat.org.
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2020 Upcoming Due Dates
For a list of upcoming due dates, please click
here.
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2020 Upcoming Meetings
Executive Committee Meeting
Teleconference
November 24, 2020
Board Meeting
Teleconference
December 14, 2020
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Stat Brain Teaser
What number comes next in this sequence? 9 27 81 ___
Please email your answers to
NISSNews@niss-stat.org.
A person will be randomly drawn from the first ten correct answers, and that
person will win a
$25 gift card from Amazon.com!
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Winner of $25 Amazon gift card last quarter: Tina Dinh
For the question and answer from the last brain teaser, please view the NISS
News section
here.
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