Regulatory Alerts2020-01-01 | Bulletin 2020-4Report on Proposed Bulletin DFR 2020-4 Regarding Virtual Claim Adjustment Systems
The Oregon Division of Financial Regulation issued a report on public comments regarding a proposed bulletin guiding auto insurers on the use of virtual claim adjustment systems and mobile applications. The analysis reveals industry concerns that the draft language might inadvertently prohibit necessary secondary reviews and supplemental payments, while also highlighting the limitations of virtual systems for complex or high-value claims. Consequently, the Senior Policy Advisor recommends adopting the bulletin with clarifying edits to explicitly permit secondary reviews and limiting its scope to auto insurance claims for the time being.
Share