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Concepts

Concepts are a collection of terms that uses the advanced search capability in order to quickly keep track of different areas in the regulatory landscape.

These are the concepts currently available on our platform:

(last updated 08/31/22)
Meta-Concept Concepts Definitions
BSA/AML AML – Sanctions This concept filters for documents related to financial sanctions, import and export controls, and money laundering.
BSA/AML Compliance Guidance This concepts filters for documents related to AML, financial crimes, and financial violations
BSA/AML Compliance Legislation This concepts filters for legislation related to AML and financial crimes.
BSA/AML Compliance Notice This concept filters for regulatory notices related to AML Compliance.
BSA/AML Compliance Regulations This concept filters for regulations related to AML Compliance.
BSA/AML Compliance Research This concept filters for research documents related to AML Compliance.
BSA/AML Customer Due Diligence Customer Due Diligence enables the bank to understand the nature and purpose of customer relationships, which include understanding the types of transactions in which a customer is likely to engage. These processes assist the bank in determining when transactions are potentially suspicious.
BSA/AML Data Security The increased emphasis on information sharing is accompanied by provisions requiring confidentiality and data security protocols. It is important for BSA/AML officers to develop effective plans for addressing and reporting on potentially adverse cyber-events. This includes appropriate frameworks for information sharing among financial institutions, their agents and service providers, their regulatory authorities, and law enforcement authorities.
BSA/AML Financial Crimes Includes legislations, regulations, policies and guidelines pertaining to money laundering, terrorist financing and violations of the Bank Secrecy Act.
BSA/AML Financial Crimes Guideline Documents published to help explain programs and policies and communicate other important information to regulated entities and the public pertaining to money laundering, terrorist financing and violations of the Bank Secrecy Act.
BSA/AML Financial Crimes Legislation Documents with a set of rules and regulations that are indispensable and must be followed pertaining to money laundering, terrorist financing and violations of the Bank Secrecy Act.
BSA/AML Financial Crimes Notices Documents published to notify the public on regulatory updates related to pertaining to money laundering, terrorist financing and violations of the Bank Secrecy Act.
BSA/AML Financial Crimes Regulation Documents embodying rules and regulations pertaining to money laundering, terrorist financing and violations of the Bank Secrecy Act.
BSA/AML Financial Crimes Research Document issued by an agency, entity or organization to communicate relevant research findings, discussions, views, reports and policy change suggestions pertaining to money laundering, terrorist financing and violations of the Bank Secrecy Act.
BSA/AML General AML This concept filters for documents related to Anti-Money Laundering broadly.
BSA/AML Information Sharing Laws and regulations established for procedures of information sharing between law enforcement and financial institutions to deter money laundering and terrorist activity under requirements of BSA and USA Patriot Act.
BSA/AML Money Laundering Notices Documents published by relevant agencies to notify and inform member firms of the AML requirements and priorities set under law, and to guide member firms to consider how to incorporate the AML requirements into their risk-based anti-money laundering (AML) compliance programs.
BSA/AML Money Laundering Regulations Laws and regulations under the USA PATRIOT Act and other regulations, wherein broker-dealers must establish a compliance program, including policies and procedures to detect and report suspicious activities to the government, as well as ensure compliance with the new laws. Firms must also implement specialized employee training programs, designate a special compliance officer and conduct independent audits of the effectiveness of the compliance program.
BSA/AML OFAC It is a department of the U.S. Treasury that is charged with enforcing economic and trade sanctions imposed by the U.S. against countries and groups of individuals. Sanctions have been imposed on those involved in foreign aggression, terrorist activities, and narcotics sales, among other acts.
BSA/AML Overdraft Regulation Includes laws and regulations pertaining to overdraft services provided by financial institutions as well as detecting suspicious activity for deposit accounts with a high volume of activity, which carry low balances, or are frequently overdrawn, may be indicative of money laundering or check kiting.
BSA/AML Privacy Suspicious Activity Report (SAR) National banks are required to file a Suspicious Activity Report (SAR) when they detect a known or suspected violation of Federal law or a suspicious transaction related to a money laundering activity or a violation of the Bank Secrecy Act. The bank is required to file a SAR with the appropriate Federal law enforcement agencies and the Department of the Treasury on the form prescribed by the OCC and in accordance with the form’s instructions. The bank shall also send the completed SAR to FinCEN in certain circumstances.
Consumer Privacy Data Security Involves handling and protection of the sensitive personal information provided by customers in the course of everyday transactions. Data Security protects data from compromise by external attackers and malicious insiders.
Consumer Privacy Disclosure Financial institutions must notify their customers about their information-sharing practices and tell consumers of their right to “opt-out” if they don’t want their information shared with certain nonaffiliated third parties. In addition, any entity that receives consumer financial information from a financial institution may be restricted in its reuse and redisclosure of such information.
Consumer Privacy Privacy Notice A privacy notice is a public document from an organization that explains how that organization collects, processes, retains and discloses personal information and how it applies data protection principles.
Corporate Compliance Annual Thresholds Annual Threshold means the actual annual aggregate requirements of a company, as reflected by the company’s records of the number of product units ordered from vendors, or manufactured by the company itself, during the calendar year.
Corporate Compliance Bank Holding Companies Provides guidance for conducting inspections of bank holding companies and their non-bank subsidiaries to ascertain whether financial strength of the bank holding company is being maintained and to determine effects of transactions between holding company or its non-banking subsidiaries and its subsidiary banks.
Corporate Compliance Compliance Management Compliance management ensures that an organization’s policies and procedures align with a specific set of rules based on legal, regulatory, and industry standards. Effective corporate compliance management covers internal policies and rules and federal and state laws.
Corporate Compliance Crypto Coin Regulations Regulations related to cryptocurrencies.
Corporate Compliance Escrow The law requires most creditors to maintain an escrow account for higher-priced mortgage loans. Usually, State law determines the required escrow documentation and law, but if Federally regulated financial institutions are involved, Federal law can apply and also as to transactions involving interstate commerce.
Corporate Compliance Exemptions and Regulations Includes rules, regulations and policy updates for certain temporary relaxations towards corporate compliance requirements.
Corporate Compliance Fair Banking Laws and regulations pertaining to the prohibition of discrimination in credit transactions and fair access to banking.
Corporate Compliance Regulatory Compliance Management This concept filters for documents broadly related to RCM.
Corporate Compliance Self-dealing This concept finds documents related to self-dealing, related parties, and covered persons.
Corporate Compliance Transactions Thresholds This concept filters for documents dealing with transaction threshold regulations.
COVID-19 Appraisal In light of COVID-19, financial institutions have had difficulties obtaining appraisals for real estate, extensions of credit or changes to existing note terms. Governments have swiftly responded with an array of measures to alleviate the negative consequences of the crisis for tenants, borrowers, builders and lenders.
COVID-19 Eviction In light of COVID-19, eviction rules have been modified in the United States to help prevent the spread of coronavirus.
COVID-19 Eviction Notice Documents published to notify the public on regulatory updates related to modified eviction rules in the United States during the coronavirus pandemic.
COVID-19 Eviction Regulations Documents embodying rules pertaining to the regulation of eviction rules in the United States during the coronavirus pandemic.
COVID-19 Forbearance Forbearance is when the mortgage servicer or lender allows to temporarily pay the mortgage at a lower payment or pause mortgage payment. Due to the coronavirus pandemic, many homeowners are struggling to make mortgage payments as a result of which majority of homeowners are eligible for forbearance for a coronavirus-related financial hardship.
COVID-19 Foreclosure In light of COVID-19, regulations have been passed making it mandatory for loan servicers to enhance their efforts to help homeowners affected by the pandemic. These rules ensure that borrowers get a chance to pursue loss mitigation options to avoid foreclosure and allows servicers to offer assistance to borrowers faster. A few states have passed new foreclosure laws to help homeowners avoid foreclosure.
Credit Card Credit Card EFTA The Electronic Fund Transfer Act (EFTA) protects consumers when they transfer funds electronically using debit cards, ATMs, and direct deposits.
Credit Card Credit Card Notices This concepts filters for regulatory notices related to credit cards.
Credit Card Credit Card Regulation Z This document filters for regulations relating to the Truth in Lending Regulation (Regulation Z).,
Credit Card Credit Card Regulations This concept filters for credit card regulations.
Credit Card Credit Reporting Credit reports play a pivotal role in decisions to grant credit – including mortgage loans, auto loans, credit cards, and private student loans including by information contained in credit reports as part of the lending decision. These reports are also used in other spheres of decision-making, including eligibility for rental housing, setting premiums for auto and homeowners insurance etc. As the range and frequency of decisions that rely on credit reports have increased, so has the importance of assuring the accuracy of these reports.
Deposits Overdrafts An overdraft occurs when an account lacks the funds to cover a withdrawal, but the bank allows the transaction to go through anyway. The overdraft allows the customer to continue paying bills even when there is insufficient money. Essentially, it’s an extension of credit and the account holder pays interest on it and will typically be charged a one-time insufficient funds fee.
FCPA/ABAC General ABAC This concepts filters for documents related payments or corruption to public officials.
FinTech Agency Updates Documents published by relevant agencies to notify all persons and entities on matters that concern the regulation and administration of the FinTech industry.
FinTech Data Security Fintech companies are increasingly involved in mobile transfers, electronic payments systems, end-to-end user systems, and cryptocurrency trading, which carries significant security risks. Thus, both legal and technological requirements are essential to protect customers’ data and privacy.
FinTech FinTech The synergy between finance and technology that aims to compete with traditional financial methods in the delivery of financial services. FinTech is an emerging industry that uses technology to improve activities in finance.
FinTech FinTech News Documents that comprise of news updates pertaining to the delivery of financial services through technology and innovation in the FinTech industry.
FinTech Notices Documents issued to notify the public on matters pertaining to the delivery of financial services through technology and innovation in the FinTech industry.
FinTech Regulations FinTech is regulated both at federal and state level. FinTech offerings are subject to extensive product-level regulation by the federal government and individual states. FinTech entities are also subject to licensing and chatering regimes at the federal level and on a state-to-state basis which collectively determine how firms are supervised by regulatory authorities. Certain key regulations applicable to the FinTech industry include but are not limited to BSA/AML reforms, state credit and money trasmitter laws, cryptocurrency regulations formulated by the SEC, CFTC and FinCEN.
Homeowners Insurance Claims Documents comprising of rules, coverage and claim procedures followed by insurance companies to determine the settlement or reimbursement to homeowners.
Homeowners Insurance Consumer Complaints Documents pertaining to consumer complaint reports, bureau reports and member policies for homeowners insurance.
Homeowners Insurance Fraud Takes place when a false, inflated or misrepresented claim is submitted on a homeowners or renters policy for financial gain.
Homeowners Insurance Insurance Policy Homeowners insurance is a package policy that covers both damage to property and liability or legal responsibility for any injuries and property damage policyholders or their families cause to other people. The different types of homeowners policies are fairly standard throughout the country, however, individual states and companies may offer policies that are slightly different. It includes but is not limited to damage from fire, smoke, theft, vandalism, a falling tree, or damage caused by weather. Most standard homeowners insurance policies also cover furniture, clothing, and other possessions.
Homeowners Insurance Loss Refers to the basis of a claim for damages under the terms of a policy. Includes loss of assets resulting from a pure risk. The broadly classified types of losses of concern to risk managers include personnel loss, property loss, time element loss, and legal liability loss.
Homeowners Insurance Privacy Given the significant amount of sensitive personal information that insurers collect, process and retain, there is increased privacy and data security regulation within the insurance industry adopted by states. To stay ahead of these new privacy and data security requirements, insurers need to take steps to navigate the increasingly complex regulatory landscape.
Homeowners Insurance Rates Legislation and regulations pertaining to ratemaking and pricing standards; restrictions on rating and pricing factors that may be used in rating and pricing; insurance rating based on the geographical location; use of geo-demographic variables or data; non-binary gender; rate capping, stability and transition rating rules and restrictions; include all P&C lines.
Insurance Appraisals The valuation of property performed by a third party for accessing the coverage amount for protection of assets and also helps insurer compensate the insured the replacement value of assets.
Insurance Corporate Governance Legislation and regulations pertaining to the operation of a large insurer. This includes by-laws, Board of Directors, fiduciary duties and responsibilities, data retention, data protection, licensing of corporate entities, and licensing of agencies.
Insurance COVID-19 Legislation and regulations pertaining to Property and Casualty Insurance rules in relation to COVID-19/Coronavirus.
Insurance FEMA Rules Documents published by FEMA promulgating rules in relating to coordinating the federal government’s role in preparing for, preventing, mitigating the effects of, responding to, and recovering from all domestic disasters, whether natural or man-made, including acts of terror.
Insurance Flood Insurance Relying on federal disaster aid after a flood is not a good financial plan since disaster aid can take many months, and isn’t offered after every flood. The National Flood Insurance Program (NFIP), administered by FEMA, provides the bulk of residential flood coverage in the U.S. Though the insurance is underwritten by the federal government, it can be purchased through most insurance agents who sell homeowners insurance.
Insurance Group Insurance Legislation and regulations pertaining to ability of individuals to get together for the purpose of buying insurance based on a shared attribute.
Insurance Insurance Insurance is a contract, represented by a policy, in which an individual or entity receives financial protection or reimbursement against losses from an insurance company.
Insurance Insurance Broker An insurance broker is a professional who represents consumers in their search for the best policy for their needs. Brokers work closely with their clients to research the client’s needs.
Insurance Liens/Medicaid Legislation and regulations pertaining to liens and recovery costs when any public or private benefits are collected by the lienholder or person in debt.
Insurance Litigation Issues Legislation and regulations pertaining to civil procedure, litigation process rules and procedures and litigation funding i.e., regulation of companies that provide cash to plaintiffs in exchange for repayment with interest from the proceeds of a lawsuit. This also includes action for Tort Wrongful Death.
Insurance Outsourcing Legislation and regulations pertaining to the use and oversight of affiliate service providers and third-party vendors/contractors by insurance companies. This includes standards for contract provisions, business continuity/contingency planning, ongoing monitoring, and reporting.
Insurance Producer Issues Insurance producers are licensed to sell and negotiate life, health, property, or other types of insurance offered by an insurance company. This includes documents pertaining to producer and adjuster compensation, licensing, and appointments such as requirements for producers/adjusters to inform or disclose to clients the amount of commissions or other compensation paid to the agent as well as anything related to licensing requirements for non-resident or resident producers/adjusters; fingerprinting or education requirements; agent license fees, etc.
Insurance Reciprocal Insurers Reciprocal insurance exchanges are a form of insurance organization in which individuals and businesses exchange insurance contracts and spread the risks associated with those contracts among themselves. Policyholders of a reciprocal insurance exchange are referred to as subscribers. This is a means of protecting each other against losses of specified kinds.
Insurance Reinsurance Reinsurance is insurance that is purchased by an insurance company from another insurance company (reinsurer) as a means of risk management. The reinsurer and the insurer enter into a reinsurance agreement which details the conditions upon which the reinsurer would pay the insurer’s losses.
Insurance Residual Market These are insurance market systems for various lines of coverage that serve as a coverage source of last resort for firms and individuals who have been rejected by voluntary market insurers. Includes documents pertaining to assigned risk plans, reinsurance facilities, FAIR plans, wind pools, catastrophe funds, reinsurance facilities etc.
Insurance Unclaimed Property This refers to tangible or intangible property that has remained unclaimed by its owner for an extended period of time. Such property inures to the benefit of the state in which the owner was last known to reside.
Insurance – Advertising Advertising Legislation and regulations pertaining to advertising, marketing, and telemarketing by insurance companies, including but not limited to Do Not Call programs – state or federal programs permitting individuals to opt out of receiving phone call, emails or faxes under certain circumstances, restrictions on when companies are permitted to call or contact customers or prospects.
Insurance – Advertising Credit Scoring Legislation and regulations pertaining to procedures that prohibit, regulate, or restrict the use of credit or insurance scores for purposes of insurance advertising and marketing including but not limited to factors such as occupation and education.
Insurance – Advertising E-Commerce Legislation and regulations permitting and setting requirements for notarizing documents electronically. This includes but is not limited to federal e-sign, insurance e-sign, state UETA.
Insurance – Advertising Gifting/Rebating Legislation and regulations pertaining to advertising, marketing, and telemarketing by insurance companies of gifts and rebates or other such discounts to help increase new business or retain insurance policies.
Insurance – Advertising Liability Coverage Legislation and regulations pertaining to advertising, marketing, and telemarketing by insurance companies of insurance plans in relation to the amount of risk or liability that is covered for an individual or entity by way of insurance services.
Insurance – Advertising Mandatory Disclosures Legislation and regulations requiring mandatory disclosure of information and filing of ads, disclaimers which should be part of insurance advertisements, product combination ads, etc., applicable to any insurance company publishing advertisements in print or through electronic media.
Insurance – Advertising Market Conduct Legislation and regulations pertaining to investigation by insurance regulators to determine if an insurer has followed laws relating to the distribution of products to consumers. This includes complaint handling standards and requirements, complaint log and associated requirements, data calls, data exchanges, surveys, record retention/destruction and reporting requirements, market analysis, investigations.
Insurance – Advertising Military Legislation and regulations pertaining to advertising, marketing, and telemarketing by insurance companies while a member is located on a military installation, on active duty assignment, deployed or veteran.
Insurance – Advertising Sales Practices Legislation and regulations dealing with the relationship between insured and insurers. This includes commission, award contests, illegal inducements, tying, collateral business and unfair trade practices.
Insurance – Advertising Trade Practices Legislation and regulations pertaining to measures that address unfair or deceptive trade practices related to insurance advertising and marketing. This includes but is not limited to misrepresentation of benefits, conditions, or policy advantages, making false or misleading statements, providing false information, coercion or intimidation tactics, unfair discrimination, providing prohibited sales inducements or rebates and failure to disclose.
Insurance – Claims Age of Majority Legislation and regulations pertaining to the age of adulthood as it relates to a claim under an insurance policy.
Insurance – Claims Attorney Fees Laws and regulations related to attorney fees and fees incurred by policyholders in relation to an insurance claim or dispute.
Insurance – Claims Auto Damages Legislation and regulations pertaining to the claims process during the aftermath of physical damages to an automobile sustained in an accident. This includes appraisals, estimates, labor rates, direct repair, total losses or salvage etc.
Insurance – Claims Bad Faith Legislation and regulations defining or pertaining to bad faith conduct by an insurance company related to insurance claims.
Insurance – Claims Bailment Bailment represents a legal relationship wherein the temporary physical possession of a personal property is transferred from one individual to another individual who will subsequently get the property’s possession but not the entire ownership for a specific period of time. This includes legislation and regulations related to insurance claims wherein such property is in possession of the bailee.
Insurance – Claims CAT Issues A CAT bond allows the issuer to receive funding only on the occurance of certain natural disasters. This includes legislation and regulations pertaining to catastrophe claims reporting and CAT claims.
Insurance – Claims Civil Unions This refers to general civil unions and same gender marriage regulations which impact claims practices in an insurance policy.
Insurance – Claims Claim Settlement Legislation and regulations pertaining to the prompt resolution and payment of insurance claims. This includes but does not limit to legislation and regulations that requires insurance companies to simplify the claims filing and processing procedures and legislation related to the settlement of claims submitted for injuries, property damage, PIP or Medical Payments.
Insurance – Claims Claims Legislation and regulations related to insurance claims, or a formal request by a policyholder to an insurance company for coverage or compensation for a covered loss or policy event.
Insurance – Claims Damage Caps Legislation and regulations that limit the amount of money that can be awarded for certain kinds of damages such as non-economic and punitive damages in a case.
Insurance – Claims Depreciation Depreciation decreases the value of property over a period of time as result of age, wear and tear, or economic obsolescence. Depreciation leads to diminishing the value of the insured property and the insurance claims are paid only after deducting the depreciated value from the insured property.
Insurance – Claims Direct Action These include legislations that grant an injured party direct standing to sue an insurer instead of the insured tortfeasor in relation to an insurance claim.
Insurance – Claims Dry Wall This includes insurance claims specific to dry wall structures. A dry wall insurance is common for contractor businesses to protect from liability when using foreign dry wall in the construction or repair of structures.
Insurance – Claims Family Exclusions Legislation and regulations pertaining to precluding coverage for claims made by one insured family member against another insured family member.
Insurance – Claims Fraud Legislation and regulations pertaining to deception used to cheat or intentionally mislead in the payment of an insurance claim.
Insurance – Claims Injury Claims Legislation and regulations pertaining to insurance claims arising out of personal injuries sustained as a result of an auto accident.
Insurance – Claims Large Losses Legislation and regulations pertaining to the treatment of large losses in claims handling process.
Insurance – Claims Liens Legislation and regulations related to a legal claim that an insurance company has over settlement claims after paying the injured party’s bills.
Insurance – Claims Loss Settlement This includes insurance claims including but not limited to loss of use, funeral services, emergency services, deductibles, wages, water mitigation, offsets, primacy of coverage, no coverage, government recovery, wrongful death/survival, contractors estimates, loss of consortium etc.
Insurance – Claims Mandatory Disclosures Includes legislation and regulations requiring information to be sent to policyholders separately or as part of the policy regarding coverage options available, explanations of coverage, mortgagee requirements, or cost of options available, surcharges, certificates of insurance etc. as mandated by law.
Insurance – Claims Marital Status Legislation and regulations pertaining to general marital status regulations which impact claims practices.
Insurance – Claims Market Conduct Legislation and regulations pertaining to investigation by insurance regulators to determine if an insurer has followed laws relating to the settlement of claims. This includes compliant logs, data calls, data exchanges, surveys, record retention/destruction and reporting requirements, market analysis, investigations.
Insurance – Claims Military Legislation and regulations pertaining to settlement of insurance claims while a member is located on a military installation, on active duty assignment, deployed or veteran.
Insurance – Claims Misrepresentation Standards Legislation and regulations laying down the minimum standards necessary to determine misrepresentation of insurance claims.
Insurance – Claims Negligence This includes claims arising from liability for failing to demonstrate the appropriate amount of care or responsibility owed in a situation.
Insurance – Claims No-Fault Coverage Also known as Personal Injury Protection (PIP) and Medical Payments. This includes legislation and regulations pertaining to first party benefits payable under auto policies without regard to fault.
Insurance – Claims Offer of Judgment Legislation and regulations related to a claim settlement offer by one party to allow a specified judgment to be taken against the party.
Insurance – Claims Offer of Settlement Legislation and regulations related to an offer by one party to settle a dispute amicably to avoid or end a lawsuit or other legal action.
Insurance – Claims Power of Attorney Legislation and regulations pertaining to the use of written authorization to represent or act on another’s behalf in an insurance claim matter.
Insurance – Claims Pre/Post Judgment Legislation and regulations related to any actions or proceedings that occur either from the time of injury or damage until the time a judgment is entered, or after the case is finalized and a judgment has been entered.
Insurance – Claims Property Claims Legislation and regulations pertaining to claims to repair or replace value calculations, valued policy, etc.
Insurance – Claims Property Claims Liability Legislation and regulations pertaining to liability claims under a property insurance policy.
Insurance – Claims Safety Includes legislation and regulations pertaining to responsibilities on insurers in relation to building code construction standards designed to mitigate damage or loss to real property, cell phone or texting requirements that limit, ban or fine vehicle operators for using cell phones or texting under certain circumstances, loss prevention efforts, the use of recycled or recovered airbags by auto repair shops, etc.
Insurance – Claims Salvage Legislation and regulations pertaining to damaged property an insurer takes over to reduce its loss after paying a claim, including any salvage charges associated with recovering that property.
Insurance – Claims Sinkhole Laws and regulations pertaining to the policy claims against a depression in the surface of the ground caused by the sudden collapse due to weakening of the land’s surface layer.
Insurance – Claims Statute of Limitations Legislation and regulations prescribing the period within which certain types of causes of action for insurance claims must be brought. This includes but does not limit to Fraud, PIP, Property Damage, Wrongful Death, Active Duty Military.
Insurance – Claims Subrogation Legislation and regulations pertaining to the insurer’s right to recover payments and recovery of a client’s deductibles.
Insurance – Claims Tort Exclusion Legislation and regulations dealing with the exclusion of tort claims from an insurance policy.
Insurance – Claims Total Loss Legislation and regulations pertaining to claims where the repair cost or salvage cost of a damaged property exceeds its insured value, and simply replacing the old property with a new equivalent is more cost-effective.
Insurance – Claims Trade Practices Legislation and regulations pertaining to measures that address unfair or deceptive trade practices related to insurance. This includes but is not limited to making false or misleading statements, providing false information in relation to an insurance claim.
Insurance – Claims UM/UIM This refers to uninsured or underinsured motorists claims to cover medical bills and the cost to repair or replace the vehicle if an insured is hit by a driver who is uninsured or underinsured.
Insurance – Coverage Actual Cash Legislation and regulations that pertains to coverage for the replacement cost or rebuilding cost less depreciation, depending on the policy form or endorsement used and jurisdictional rules.
Insurance – Coverage Coverage Legislation and regulations pertaining to the amount of risk or liability that is covered for an individual or an entity by way of insurance services.
Insurance – Coverage Auto Damages Legislation and regulations pertaining to insurance coverage due to the aftermath of physical damages to an automobile sustained in an accident. This include appraisals, estimates, labor rates, actions that restrict or ban in the use of “aftermarket auto parts” in lieu of Original Equipment Manufacturer (OEM) parts, direct repair restrictions on use of preferred auto and glass repair facilities and any action regulating storage, title, total losses or salvage.
Insurance – Coverage Compulsory Insurance Legislation and regulations pertaining to any type of insurance an individual or business is legally required to buy on the basis of state based compulsory coverage requirements.
Insurance – Coverage Deductibles Legislation and regulations pertaining to the portion of a covered loss that is not paid by the insurer.
Insurance – Coverage Exclusions Legislation and regulations pertaining to full or partial insurance policy coverage exclusions.
Insurance – Coverage Insured To Value The proper amount of insurance coverage of a home is determined by the home’s characteristics which is used to establish the minimum estimated cost to rebuild such home.
Insurance – Coverage Mandatory Coverages Legislation and regulations requiring an insurer to provide certain coverages as prescribed under law.
Insurance – Coverage Mandatory Disclosures Legislation and regulations pertaining to requirement of mandatory disclosures by the insurer regarding policy coverage requiring information to be sent to policyholders regarding coverage options available, explanations of coverage, mortgagee requirements, or cost of options available, surcharges.
Insurance – Coverage Market Conduct Legislation and regulations pertaining to investigation by insurance regulators to determine if an insurer has followed laws relating to the insurance policy coverage. This includes compliant logs, data calls, data exchanges, surveys, record retention/destruction and reporting requirements, market analysis, investigations.
Insurance – Coverage Military Legislation and regulations pertaining to coverage offerings while a member is located on a military installation, on active duty assignment, deployed or veteran.
Insurance – Coverage Minimum Limits Legislation and regulations requiring an insurer to provide a minimum limit of certain coverages.
Insurance – Coverage No-Fault Coverage Also known as Personal Injury Protection (PIP) and Medical Payments. Legislation and regulations pertaining to first party benefit coverage under auto policies without regard to fault.
Insurance – Coverage Optional Coverages Legislation and regulations related to any optional coverages an insurer may offer or be required to provide.
Insurance – Coverage Other Structures Legislation and regulations pertaining to coverage for the structures on a residence premises that are set apart from the dwelling by a clear space. These structures are also referred to as detached structures or appurtenant structures.
Insurance – Coverage Personal Computer Legislation and regulations that pertain to coverage for personal computers to include hardware and purchased software owned and leased by an insured.
Insurance – Coverage Replacement Cost Legislation and regulations that pertain to the replacement cost of an item without deduction for depreciation.
Insurance – Coverage Ride Share Ride share businesses involve the use of mobile applications through companies such as Uber and Lyft that connect people who need a ride with drivers to take them to their destination for a fee. The apps act as an intermediary between the riders and the drivers. These businesses may implicate situations in which the vehicle is a professional vehicle and also situations in which the driver is using their personal car. This includes policy coverage based on ride share arrangements such as personal vehicle, leased vehicle, professional transport agency etc.
Insurance – Coverage Short Term Rentals Laws and regulations pertaining to coverage for property that is rented for periods of less than one month at a time.
Insurance – Coverage Sinkhole Laws and regulations pertaining to the policy coverage against a depression in the surface of the ground caused by the sudden collapse due to weakening of the land’s surface layer.
Insurance – Coverage UM/UIM This refers to coverage related to uninsured or underinsured motorists to cover medical bills and the cost to repair or replace the vehicle if an insured is hit by a driver who is uninsured or underinsured.
Insurance – Coverage Workers Compensation Legislation and regulations that pertain to coverage for workers compensation.
Insurance – Data CLUE Reports Legislation and regulations that prohibit, regulate, or restrict the ordering and utilization of third party reports such as Comprehensive Loss Underwriting Exchange (“CLUE”). CLUE report is typically leveraged to assist in determining the acceptability and rating in a policy and to include consumer disclosure and notification requirements.
Insurance – Data Consumer Reports Legislation and regulations pertaining to reports insurance companies may obtain about individual consumers including motor vehicle records (“MVR”) which show all violations, accidents, etc. and Comprehensive Loss Underwriting Exchange (“CLUE”) which keeps insurance claims history.
Insurance – Data Data Retention Legislation and regulations pertaining to the responsibilities of an insurer to maintain a system of record of data, documents, filed rates, forms, etc.
Insurance – Data DMV Data Legislation and regulations pertaining to when and how an insurance company can use DMV records on an insured.
Insurance – Data E-Commerce Legislation and regulations permitting and setting requirements for notarizing documents electronically. This includes federal e-sign, insurance e-sign etc.
Insurance – Data Fair Credit Reporting Legislation and regulations laying down requirements, restrictions, and guidelines associated with credit reporting practices, as they apply to businesses who report to credit reporting agencies. This also includes measures placing restrictions or requirement on credit reporting agencies on the information that can be reported/excluded, access to credit report information and associated privacy issues, credit report freezes, processes related to removal of items on a credit report, inquiries, or the types of accounts that may be included on a report.
Insurance – Data Information Security Legislation and regulations pertaining to unauthorized access and use of data regardless of whether it is in electronic or physical form. This includes requirements related to the confidentiality, integrity and availability of data for customer information, cyber security, data security standards, security training and threat awareness, data encryption and vulnerability management.
Insurance – Data Market Conduct Legislation and regulations pertaining to investigation by insurance regulators to determine if an insurer has followed laws relating to the collection and use of data, data and record keeping requirements. This includes compliant logs, data calls, data exchanges, surveys, record retention/destruction and reporting requirements, market analysis, investigations.
Insurance – Data Military Legislation and regulations pertaining to data collection and documents of an insured while a member is located on a military installation, on active duty assignment, deployed or veteran.
Insurance – Data Privacy Legislation and regulations pertaining to the collection, use, sharing, maintenance, storage, reporting, and privacy expectations of personally identifiable information collected from customers or obtained in the course of a business relationship. This includes Health Insurance Portability and Accountability Act (HIPAA), Insurance Information and Privacy Protection Model Act (IIPPA).
Insurance – Data Reporting Requirements Legislation and regulations that require insurers to report out financial, performance or process information or define the reporting methodology and standards.
Insurance – Data Security Breach Legislation and regulations pertaining to requirements related to notice to consumers or public officials or public entities as a result of an information breach, including all post-breach obligations arising out of the unintentional release of personal private consumer information that is released to the public or obtained through illegal means.
Insurance – Data Sinkhole Laws and regulations pertaining to use of data to ascertain risk against a depression in the surface of the ground caused by the sudden collapse due to weakening of the land’s surface layer.
Insurance – Data Social Security Legislation and regulations pertaining to when or how an insurer is allowed to use the social security number of an insured.
Insurance – Discrimination Age Legislation and regulations pertaining to the unjust or prejudicial treatment of people on the basis of age. This includes general age regulations as well as those which impact contract provisions, underwriting, pricing or claims practices.
Insurance – Discrimination Civil Unions Legislation and regulations pertaining to the unjust or prejudicial treatment of people on the basis of their civil union. This includes general civil unions and same gender marriage regulations as well as those which impact contract provisions, underwriting, or claims practices.
Insurance – Discrimination Disability Legislation and regulations pertaining to the unjust or prejudicial treatment of people on the grounds of disability. This includes general disability regulations as well as those which impact contract provisions, underwriting, pricing or claims practices.
Insurance – Discrimination Gender Legislation and regulations pertaining to the unjust or prejudicial treatment of people on the grounds of gender. This includes general gender regulations as well as those which impact contract provisions, underwriting, pricing or claims practices.
Insurance – Discrimination Marital Status Legislation and regulations pertaining to the unjust or prejudicial treatment of people on the grounds of their marital status. This includes general marital status regulations as well as those which impact contract provisions, underwriting, pricing or claims practices.
Insurance – Discrimination Market Conduct Legislation and regulations pertaining to investigation by insurance regulators to determine if an insurer has followed laws relating to discrimination based gender, race, age, civil union etc. This includes compliant logs, data calls, data exchanges, surveys, record retention/destruction and reporting requirements, market analysis, investigations.
Insurance – Discrimination Military Legislation and regulations pertaining to unjust or prejudicial treatment while a member is located on a military installation, on active duty assignment, deployed or veteran.
Insurance – Discrimination New vs Renewal Legislation and regulations pertaining to differences in treatment of new business versus renewal business which can impact underwriting, pricing, documents, coverage and communications
Insurance – Discrimination Non-Binary Gender Includes general non-binary gender laws and regulations as well as those which impact contract provisions, underwriting, or claims practices.
Insurance – Discrimination Trade Practices Legislation and regulations pertaining to measures that address unfair or deceptive trade practices related to prejudicial treament of certain specific people relating to insurance policies. This includes but are not limited to making false or misleading statements, providing false information in relation to an insurance claim.
Insurance – Documents Declarations Page Legislation and regulations pertaining to certain requirements regarding information that must appear on the Declarations Page of an insurance policy. This includes but does not limit to font, color, readability, scoring requirements, document placement in a policy packet, delivery channel, and mailing requirements.
Insurance – Documents Document Delivery Legislation and regulations pertaining to the channel a policy holder elects to have their documents delivered to them.
Insurance – Documents Document Retention Legislation and regulations pertaining to how documents relating to an insurance policy will be managed from creation to destruction.
Insurance – Documents Form Requirements Legislation and regulations around the various forms used by insurers. These stipulate when forms may be required, requirements insurers must follow to apply for the use of a form, prohibited or restricted content, and/or content required to be included on a form.
Insurance – Documents Market Conduct Legislation and regulations pertaining to investigation by insurance regulators to determine if an insurer has followed laws relating to the collection of documents, document record keeping requirements. This includes compliant logs, data calls, data exchanges, surveys, record retention/destruction and reporting requirements, market analysis, investigations.
Insurance – Documents Military Legislation and regulations pertaining to collection and storing of documents of an insured while a member is located on a military installation, on active duty assignment, deployed or veteran.
Insurance – Documents Outlines of Coverage Legislation and regulations pertaining to requirements of documents containing explanation of benefits, coverage, exclusions, and premiums to serve as a summary that are given to an applicant for insurance or to an existing policyholder with a brief description of the important features of a policy.
Insurance – Documents Power of Attorney Legislation and regulations pertaining to the use of written authorization to represent or act on another’s behalf in private affairs, business, or some other legal matter relating to insurance.
Insurance – Documents Proof of Insurance Legislation and regulations pertaining to the requirement for documents namely Proof of Insurance or Certificate of Insurance to include certain specific information and requirements such as font, color, and readability.
Insurance – Documents Returned Mail Legislation and regulations pertaining to returned, undelivered mail in relation to insurance for all channels.
Insurance – Documents Sinkhole Laws and regulations pertaining to the policy documents relating to coverage, premium, claims, underwriting risks against a depression in the surface of the ground caused by the sudden collapse due to weakening of the land’s surface layer.
Insurance – Documents UM/UIM This refers to coverage documents related to uninsured or underinsured motorists to cover medical bills and the cost to repair or replace the vehicle if an insured is hit by a driver who is uninsured or underinsured.
Insurance – Filings Certification Requirements Legislation and regulations pertaining to the certification process of rates and forms filings.
Insurance – Filings Checklists Legislation and regulations pertaining to checklists or instructions a state provides an insurance provider to support the filing of rates and forms.
Insurance – Filings Confidentiality Legislation and regulations pertaining to confidentiality of any rates and forms that are filed with the state by the insurance provider.
Insurance – Filings Cover Letter Legislation and regulations requiring the information submitted with rate and form filings to appear on the policy cover letter.
Insurance – Filings Deemer Provisions Legislation and regulations pertaining to the date that an insurer may begin using the filed product unless the state notified them otherwise.
Insurance – Filings E-Filing Requirements Legislation and regulations pertaining to the channel, method, or submission tool that insurance providers must use to file rates and forms.
Insurance – Filings Effective Date Legislation and regulations pertaining to the date the insurance filing has become or is scheduled to become effective.
Insurance – Filings Filing Fees Legislation and regulations pertaining to fees to be collected by the state from insurance providers to file rates and forms.
Insurance – Filings Filing Procedures Legislation and regulations pertaining to the procedure or instructions to file rates and forms.
Insurance – Filings Filings Legislation and regulations pertaining to forms, rules, rates, standards and information required in filings made to insurance regulators or required by insurance regulators. This includes annual filings of financial statements, actuarial certification of reserves, principle based reserves etc.
Insurance – Filings Implementation Requirements Legislation and regulations pertaining to when rates and forms may be implemented.
Insurance – Filings Market Conduct Legislation and regulations pertaining to investigation by insurance regulators to determine if an insurer has followed filing requirements. This includes compliant logs, data calls, data exchanges, surveys, record retention/destruction and reporting requirements, market analysis, investigations.
Insurance – Filings Me Too Filings Legislation and regulations pertaining to a filing that allows or prohibits one company to adopt another company’s filing.
Insurance – Filings Military Legislation and regulations pertaining to filing requirements of an insured while a member is located on a military installation, on active duty assignment, deployed or veteran.
Insurance – Filings Option Form Requirements Legislation and regulations pertaining to the filing requirements of any optional or discretionary forms.
Insurance – Filings Required Exhibits Legislation and regulations pertaining the required exhibits that should be included in rate and form filings. This can include but is not limited to side-by-side or marked up documents illustrating the change(s).
Insurance – Filings Required State Forms Legislation and regulations pertaining to the required state forms that are to be included in rate and form filings.
Insurance – Filings Supporting Documentation Legislation and regulations pertaining to any supporting documentation or information to be included in rate and form filing that may be required by the state.
Insurance – Filings Withdrawal Requirements Legislation and regulations pertaining to the requirements and procedures to withdraw rate and form filings.
Insurance – Premium/Renewal Cancellation/Nonrenewal Legislation and regulations pertaining to declination, cancellation, non-renewal, termination or transfer of insurance policies and limitations on allowable reasons and required notices.
Insurance – Premium/Renewal Fees Legislation and regulations pertaining to fees and other charges charged to insurers by individual states to be used for other various insurance factors within the state. This also includes requirements for insurers in terms of application of fees to insureds to make up for fees charged to insurers by the states and/or fees charged by insurers to insureds as policy fees, late payment fees, etc.
Insurance – Premium/Renewal Form Requirements Legislation and regulations pertaining to forms used by insurers for premiums and renewals, stipulating when forms may be required, requirements for insurers for the use of a form, permitted content or prohibited/restricted content on a form.
Insurance – Premium/Renewal Mandatory Disclosures Legislation and regulations pertaining to requirement of mandatory disclosures by the insurer regarding policy premium or renewal requiring information pertaining to fees, surcharges, billing, payments etc. to be sent to policyholders.
Insurance – Premium/Renewal Market Conduct Legislation and regulations pertaining to investigation by insurance regulators to determine if an insurer has followed requirements relating to premiums and renewals. This includes compliant logs, data calls, data exchanges, surveys, record retention/destruction and reporting requirements, market analysis, investigations.
Insurance – Premium/Renewal Military Legislation and regulations pertaining to premium and renewals of an insurance policy while a member is located on a military installation, on active duty assignment, deployed or veteran.
Insurance – Premium/Renewal Payment Plans Legislation and regulations dealing with insurer requirements and/or restrictions around down payments as well as payment plan options available to insureds.
Insurance – Premium/Renewal Premium Increase Legislation and regulations around insurer requirements to notify insureds regarding increase in premium.
Insurance – Premium/Renewal Premium/Renewal Legislation and regulations pertaining to insurance premium and billing, including but not limited to, timing and content of premium bills and notices; premium increases or reduction in coverage; modal premiums – where states may put out a requirement that affects how often premiums are paid; fees for modal payments, interest penalty for not paying one single payment up-front; payment methods; secondary addressee requirements; and non-payment cancellations.
Insurance – Premium/Renewal Renewal Notices Legislation and regulations around insurer requirements to notify insureds regarding insurance policy renewals.
Insurance – Premium/Renewal Sinkhole Legislation and regulations pertaining to policy premiums against a depression in the surface of the ground caused by the sudden collapse due to weakening of the land’s surface layer.
Insurance – Ratemaking Accident Year/Policy Year Legislation and regulations pertaining to the use of accident year experience for the purposes of reporting and ratemaking. An accident year shows the premiums earned and losses incurred during a specific period of time, while a calendar year shows premiums and losses incurred during the calendar year and a policy year includes premiums and losses from policies that are renewed or underwritten during a given year for the purposes of reporting and ratemaking.
Insurance – Ratemaking CAT Issues Legislation and regulations pertaining to the determination of rates or premiums to charge for catastrophe coverage of natural disasters including but not limited to earthquakes, hurricanes, wildfires.
Insurance – Ratemaking Credibility This pertains to the use of weighting a reasonable alternative statistic or value with data that is not fully credible in ratemaking or statistical analysis.
Insurance – Ratemaking Current Rate Method Legislation and regulations pertaining to allowable methodologies for brining premiums up to the current rate level.
Insurance – Ratemaking Data Quality Legislation and regulations pertaining to methodologies and processes applied to raw data that prepares it for analysis.
Insurance – Ratemaking Expenses Legislation and regulations pertaining to the appropriate use of both fixed and variable expenses in ratemaking and reporting.
Insurance – Ratemaking Large Losses Legislation and regulations pertaining to the treatment of large losses in ratemaking, reporting, claims handling and reserving.
Insurance – Ratemaking Loss Development Legislation and regulations pertaining to the difference between the amount an insurer initially records for claims versus the final cost of claims. This includes the loss development factors used in reserving, reporting, and ratemaking.
Insurance – Ratemaking Market Conduct Legislation and regulations pertaining to investigation by insurance regulators to determine if an insurer has followed requirements relating to ratemaking. This includes compliant logs, data calls, data exchanges, surveys, record retention/destruction and reporting requirements, market analysis, investigations.
Insurance – Ratemaking Military Legislation and regulations pertaining to determination of rates while a member is located on a military installation, on active duty assignment, deployed or veteran.
Insurance – Ratemaking Mix of Business Legislation and regulations pertaining to adjusting data, trends, or models to account for shifts between products or business segments.
Insurance – Ratemaking Policy Fees Legislation and regulations pertaining to a fee charged along with the first premium to offset initial costs.
Insurance – Ratemaking Predictive Modeling Legislation and regulations pertaining to the analysis of large data sets to make inferences or identify meaningful relationships, and the use of these relationships to better predict future events for ratemaking purposes. This includes generalized linear models (“GLM”s), sequential modeling, Multivariate Adaptive Regression Splines (“MARS”), Logistic Regression, Decision Trees, and Ordinary Least Squares.
Insurance – Ratemaking Profit Loads Legislation and regulations pertaining to accounting for extra provisions to cover business expenses and contingencies including the cost of capital in the determination of rates.
Insurance – Ratemaking Ratemaking Legislation and regulations pertaining to the determination of rates, or premiums to charge for insurance policies.
Insurance – Ratemaking Trending Procedures Legislation and regulations pertaining to estimating future values by analyzing changes between exposure periods.
Insurance – Rating Age Legislation and regulations pertaining to general age regulations in relation to rating and pricing standards for insurance policies.
Insurance – Rating At Fault Accidents Legislation and regulations related to the use of prior at fault accidents in the determination of insurance risk impacting the rating and pricing standards for insurance policies.
Insurance – Rating Cancellation/Nonrenewal Legislation and regulations pertaining to declination, cancellation, non-renewal, termination or transfer of insurance policies and limitations on allowable reasons and required notices.
Insurance – Rating CAT Issues Legislation and regulations pertaining to rating and pricing standards for catastrophe coverage of natural disasters including but not limited to earthquakes, hurricanes, wildfires.
Insurance – Rating Civil Unions Legislation and regulations pertaining to general civil unions and same gender marriage regulations in relation to rating and pricing standards for insurance policies.
Insurance – Rating Comp Claims Legislation and regulations pertaining to the use of a prior loss in the determination of risk and policy rating related to a vehicle being stolen or damaged in an incident that’s not a collision.
Insurance – Rating Connected Home Legislation and regulations pertaining to the regulation of connected home devices and use of data gathered for the purpose of determining insurance rates and premiums.
Insurance – Rating Credit Scoring Legislation and regulations pertaining to procedures that prohibit, regulate, or restrict the use of credit or insurance scores in insurance rating determination including but not limited to factors such as occupation and education.
Insurance – Rating Deductibles Legislation and regulations pertaining to the determination of the portion of a covered loss that will not be paid by the insurer during the rating process.
Insurance – Rating Default Values Legislation and regulations pertaining to the use of default values to prefill information during a quote or questionnaire in insurance rating or during determination of pricing standards.
Insurance – Rating Discounts/Surcharges Discounts in rate are provided for positive actions such as driver safety courses, anti-theft devices, passive restraint systems, safe driver credits, use of telematics devices. Surcharges are incurred as a result of an accident, motor vehicle violations or increases in rate based on data gathered from telematics devices.
Insurance – Rating Dogs/Animals Legislation and regulations pertaining to general dog or animal regulations that impact rating and pricing standards for insurance policies.
Insurance – Rating Domestic Partnership Legislation and regulations pertaining to insurance rating and pricing standards when people live together in an interpersonal relationship sharing their domestic life in the nature of a marriage, but legally are not married.
Insurance – Rating Early Quote Discount This refers to the ability and requirements around offering a discounted rate on a policy for getting a quote in advance of the expiration of current coverage.
Insurance – Rating Earthquake Legislation and regulations related to the rating requirements for inuring risks against earthquakes.
Insurance – Rating Education/Occupation Legislation and regulations dealing with the use of an insured’s level of education or occupation in the determination of rate for an insurance policy.
Insurance – Rating Experience Period Legislation and regulations pertaining to the lookback period that is allowed for prior losses in the evaluation of an insurance risk for rating purposes.
Insurance – Rating Gender Legislation and regulations pertaining to general gender regulations as well as those which impact contract provisions in relation to rating and pricing standards for insurance policies.
Insurance – Rating High Value Vehicles Legislation and regulations pertaining to the treatment of vehicles in the rating process that are particularly expensive to replace or repair.
Insurance – Rating Insurance Status This includes the current or prior status of an insurance policy and a possible reason for no current coverage. A lapse in policy could occur due to non-payment, deployed military, none needed etc. The specific reason for no current coverage can have an impact on insurance rating as well as rating variables.
Insurance – Rating Loyalty Discount This refers to the ability and requirements around offering a discount for renewing coverage and remaining with the same insurance provider.
Insurance – Rating Major Violation Major violations are considered to be more likely to result in injury and include speeding over a threshold, passing a school bus, etc. This includes legislation and regulations pertaining to the classification of an infraction or a traffic violation by a state for rating purposes.
Insurance – Rating Mandatory Coverages This includes policy rating for requirements on an insurer to provide certain type of coverages.
Insurance – Rating Marital Status Legislation and regulations pertaining to general marital status regulations as well as those which impact contract provisions, in relation to rating and pricing standards for insurance policies.
Insurance – Rating Market Conduct Legislation and regulations pertaining to investigation by insurance regulators to determine if an insurer has followed requirements relating to rating requirements and procedures. This includes compliant logs, data calls, data exchanges, surveys, record retention/destruction and reporting requirements, market analysis, investigations.
Insurance – Rating Mileage Legislation and regulations pertaining to the risk determination of insuring a vehicle based on the number of miles it is driven.
Insurance – Rating Military Legislation and regulations pertaining to rating of an insurance policy while a member is located on a military installation, on active duty assignment, deployed or veteran.
Insurance – Rating Minor Violation Minor violations tend to be higher in frequency and include speeding within a threshold, failure to obey a traffic sign, etc. This includes legislation and regulations pertaining to the classification of a traffic violation by a state for rating purposes.
Insurance – Rating Multi-Product Discount This includes offering a discount to insureds that purchase insurance policies for multiple lines of business.
Insurance – Rating No-Fault Coverage This includes policy rating pertaining to first party benefits payable under auto policies without regard to fault.
Insurance – Rating Non-binary gender Legislation and regulations pertaining to general non-binary gender laws as well as those which impact contract provisions, in relation to rating and pricing standards for insurance policies.
Insurance – Rating Non-Catastrophe Losses Legislation and regulations pertaining to the treatment of losses arising from a natural disaster that did not meet the catastrophe thresholds
Insurance – Rating Not At Fault Accidents Legislation and regulations pertaining to accidents where an insured had low to no contribution to the cause of the loss. These define when a particular driver is considered not to be responsible or negligent for any damages and/or injuries that may have occurred in an accident. States have different rules around when not-at-fault accidents may be used for rating purposes.
Insurance – Rating Number of Stories Legislation and regulations in relation to the treatment of dwellings based on the number of stories in such dwelling in rating processes.
Insurance – Rating Policy Fees Legislation and regulations relating to determination of the fee charged along with the first premium to offset initial costs.
Insurance – Rating Predictive Modeling Legislation and regulations pertaining to the analysis of large data sets to make inferences or identify meaningful relationships, and the use of these relationships to better predict future events for rating purposes. This includes generalized linear models (“GLM”s), sequential modeling, Multivariate Adaptive Regression Splines (“MARS”), Logistic Regression, Decision Trees, and Ordinary Least Squares.
Insurance – Rating Price Optimization Price Optimization is the practice involving the use of factors not specifically related to an insured’s expected losses and expenses but are used to help determine or to adjust an insured’s premium. This includes legislation and regulations pertaining to the prohibition of Price Optimization by an insurance provider.
Insurance – Rating Prior Carrier Legislation and regulations pertaining to the use of the prior insurance carrier in the determination of risk, rating, ratemaking, etc.
Insurance – Rating Prior Losses Legislation and regulations pertaining to losses that occurred prior to a current policy becoming effective.
Insurance – Rating Protection Class Legislation and regulations pertaining to the Public Protection Classification (“PPC”) program which is a rating system with a range from 1 to 10 numerically ranking a community’s municipal fire protection system. Class 1 represents an excellent fire protection system, and class 10 indicates virtually no protection.
Insurance – Rating Protective Device Discounts Legislation and regulations pertaining to offering discounts for risk mitigating devices installed in a home including but not limited to CO2/smoke detectors, security systems, sprinklers, etc.
Insurance – Rating Rate Capping Legislation and regulations pertaining to limiting fluctuations in premium rate for renewal business due to decisions to change rates, rating algorithms, treatment of data, or re-classifications.
Insurance – Rating Rating Legislation and regulations pertaining to ratemaking and pricing standards for insurance policies. This includes restrictions on rating and pricing factors that may be used in rating and pricing, insurance rating based on geographical location including but not limited to where a vehicle is primarily used or property is located, use of geo-demographic variables or data, non-binary gender, rate capping.
Insurance – Rating Ride Share Ride share businesses involve the use of mobile applications through companies such as Uber and Lyft that connect people who need a ride with drivers to take them to their destination for a fee. The apps act as an intermediary between the riders and the drivers. These businesses may implicate situations in which the vehicle is a professional vehicle and also situations in which the driver is using their personal car. This includes insurance policy rating determinations based on ride share arrangements such as personal vehicle, leased vehicle, professional transport agency etc.
Insurance – Rating Roof Legislation and regulations pertaining to the use of factors such as roof condition, age, shape, type, covering, geometry to evaluate insurance risk for policy pricing.
Insurance – Rating Sinkhole Legislation and regulations pertaining to the policy pricing risks against a depression in the surface of the ground caused by the sudden collapse due to weakening of the land’s surface layer.
Insurance – Rating Square Footage Legislation and regulations pertaining to the treatment of dwellings based on their size measured by square footage in policy ratings.
Insurance – Rating Surcharge Thresholds Legislation and regulations pertaining to the maximum amount the premium rate can change based on a change in risk exposure, rating algorithm, data source, etc.
Insurance – Rating Telematics Legislation and regulations pertaining to systems used in automobiles that combine wireless communication with GPS tracking for the purposes of determining insurance rate based on vehicle use.
Insurance – Rating Territories This refers to the grouping of locations based on geographic area in which risks are grouped together for rating purposes.
Insurance – Rating Tiering Insurance companies typically categorize risks into groups such as Preferred, Standard, High-Risk or Non-Standard. This includes legislation and regulations pertaining to using of personal information of an insured to categorize the insured into a risk category.
Insurance – Rating UM/UIM This refers to policy rating and pricing in relation to uninsured or underinsured motorists for covering medical bills and the cost to repair or replace the vehicle if an insured is hit by a driver who is uninsured or underinsured. These include new limits on uninsured motorist insurance, harsher penalties for driving without insurance, exhaustion of other insurance coverage before UM/UIM is payable. and stacking of limits.
Insurance – Rating Vehicle History Legislation and regulations pertaining to the use of a vehicle’s history in the determination of risk and insurance pricing.
Insurance – Rating Vehicle Symbol Legislation and regulations pertaining to the use of a vehicle’s make, model and year in the determination of risk and insurance pricing.
Insurance – Rating Wildfire Legislation and regulations pertaining to the evaluation of wildfire risk as it relates to insurance pricing.
Insurance – Rating Year Built This deals with the treatment of dwellings based on the year it was built in policy rating determinations.
Insurance – Rating Year Licensed Legislation and regulations related to rating determination based on the year an insured member is licensed.
Insurance – Taxation Attorney Fees Legislation and regulations related to attorney fees and liability insurance, recovery fees paid to plaintiffs and fees incurred by policyholders.
Insurance – Taxation DMV Fees Legislation and regulations pertaining to the insurers access to and cost of motor vehicle records, accident reports, title issuance and transfers fees.
Insurance – Taxation Filing Fees Laws and regulations related to filing fees paid by insurers when they need to file any changes to their insurance products.
Insurance – Taxation Licensing Fees Laws and regulations related to licensing fees paid by insurers, producers, agents, or adjusters to obtain a license to operate in a jurisdiction.
Insurance – Taxation Market Conduct Legislation and regulations pertaining to investigation by insurance regulators to determine if an insurer has followed requirements relating to premium taxes, premium tax credits or offsets, guaranty funds. This includes compliant logs, data calls, data exchanges, surveys, record retention/destruction and reporting requirements, market analysis, investigations.
Insurance – Taxation Military Legislation and regulations pertaining to premium taxes, premium tax credits or offsets of an insurance policy while a member is located on a military installation, on active duty assignment, deployed or veteran.
Insurance – Taxation Municipal Response Fees Legislation and regulations pertaining to fees and charges made by police, fire and ambulance services that respond to a vehicle crash.
Insurance – Taxation Other Fees Laws and regulations related to other fees required to operate within a jurisdiction. These fees include merger, re-insurance, assumption, consolidation, transformation, holding company and other miscellaneous fees.
Insurance – Taxation Premium Taxes Laws and regulations related to a tax on gross premium written by insurers allocable to risks located in that jurisdiction.
Insurance – Underwriting Age Legislation and regulations pertaining to general age regulations in relation to underwriting risk for insurance policies.
Insurance – Underwriting Anti-Arson Forms This refers to a fire insurance application that includes additional questions concerning the applicant’s past losses, legal convictions for arson or other fraud, the property’s safety or construction code compliance, unpaid or overdue taxes, mortgage payments or other liens on the property, etc. Such a form is used in determination of risk for underwriting purposes.
Insurance – Underwriting Cancellation Window This refers to a period of time after issuance of a new insurance policy where insurers have the ability to cancel coverage. After the cancellation window, insurers are typically subject to additional guidelines in order to cancel or non-renew an insurance policy.
Insurance – Underwriting Cancellation/Nonrenewal Legislation and regulations pertaining to declination, cancellation, non-renewal, termination or transfer of insurance policies and limitations on allowable reasons and required notices.
Insurance – Underwriting CAT Issues Legislation and regulations pertaining to underwriting risk for catastrophe coverage of natural disasters including but not limited to earthquakes, hurricanes, wildfires.
Insurance – Underwriting Civil Unions Legislation and regulations pertaining to general civil unions and same gender marriage regulations in relation to underwriting risk for insurance policies.
Insurance – Underwriting Comp Claims Legislation and regulations pertaining to the use of a prior loss in the determination of risk related to a vehicle being stolen or damaged in an incident that’s not a collision.
Insurance – Underwriting Credit Scoring Legislation and regulations pertaining to procedures that prohibit, regulate, or restrict the use of credit or insurance scores in insurance underwriting including but not limited to factors such as occupation and education.
Insurance – Underwriting Dogs/Animals Legislation and regulations pertaining to general dog or animal regulations that impact insurance underwriting.
Insurance – Underwriting Dwellings Under Construction This includes underwriting of risk in a situation where alternative coverage may be needed while a dwelling is under construction, such as a Builder’s Risk Endorsement.
Insurance – Underwriting Electric Legislation and regulations pertaining to the use of electrical systems in the determination of insurance risk as it relates to underwriting.
Insurance – Underwriting Experience Period Legislation and regulations pertaining to the lookback period that is allowed for prior losses in the determination of insurance risk as it relates to underwriting.
Insurance – Underwriting Exterior Wall Construction Legislation and regulations pertaining to the determination of insurance risk on the basis of exterior dwelling construction materials used including but not limiting to siding materials such as vinyl, aluminum, metal, hardboard, or masonite, pine, cement fiber etc.
Insurance – Underwriting Foundation Type Legislation and regulations pertaining determination of risk for purposes of underwriting based on the formation type of a building. The foundation type refers to a section of load bearing wall forming the base of a building and can include basement, concrete slab, crawl space, pier & beam, etc.
Insurance – Underwriting Fuel/Oil Tank Legislation and regulations pertaining to the use of fuel or oil storage tank on a property in the determination of insurance risk as it relates to underwriting.
Insurance – Underwriting Gender Legislation and regulations pertaining to general gender regulations as well as those which impact contract provisions in relation to insurance underwriting.
Insurance – Underwriting Heat Sources Legislation and regulations pertaining to the use of heat source in the determination of insurance risk as it relates to underwriting.
Insurance – Underwriting Home Shape/Style This includes dwelling construction and design details such as multiple roof heights and roof lines, roof overhangs, porches and patios, square/rectangular or L-shaped, interior spaces that extend past the foundation which directly impact the determination of risk for underwriting purposes.
Insurance – Underwriting Hurricane Legislation and regulation pertaining to the evaluation of hurricane risk as it relates to insurance underwriting.
Insurance – Underwriting Inspections The purpose of an inspection report is to determine the dwelling value and/or the condition of the dwelling and major systems such as electrical, heating, pluming, roof, etc. Inspection may occur before or after policy issuance for the purposes of determination of risk for policy underwriting.
Insurance – Underwriting Insurance Status This includes the current or prior status of an insurance policy and a possible reason for no current coverage. A lapse in policy could occur due to non-payment, deployed military, none needed etc. The specific reason for no current coverage can have an impact on insurance risk underwriting.
Insurance – Underwriting Mandatory Disclosures Legislation and regulations pertaining to requirement of mandatory disclosures by the insurer during the underwriting process requiring information to be sent to policyholders including but not limited to aspects such as fees, surcharges, billing, payments.
Insurance – Underwriting Marital Status Legislation and regulations pertaining to general marital status regulations as well as those which impact contract provisions, in relation to insurance underwriting.
Insurance – Underwriting Market Conduct Legislation and regulations pertaining to investigation by insurance regulators to determine if an insurer has followed requirements relating to underwriting requirements, standards and procedures. This includes compliant logs, data calls, data exchanges, surveys, record retention/destruction and reporting requirements, market analysis, investigations.
Insurance – Underwriting Military Legislation and regulations pertaining to underwriting risk of an insurance policy while a member is located on a military installation, on active duty assignment, deployed or veteran.
Insurance – Underwriting No-Fault Accidents Legislation and regulations defining when a particular driver is considered not to be responsible or negligent for any damages and/or injuries that may have occurred in an accident. States have different rules around when not-at-fault accidents may be used for underwriting purposes.
Insurance – Underwriting No-Fault Coverage This includes policy underwriting pertaining to first party benefits payable under auto policies without regard to fault.
Insurance – Underwriting Non-binary gender Legislation and regulations pertaining to general non-binary gender laws as well as those which impact contract provisions, in relation to risk underwriting standards and guidelines.
Insurance – Underwriting Plumbing This includes general plumbing regulations that impact underwriting practices.
Insurance – Underwriting Power of Attorney Legislation and regulations pertaining to the use of written authorization to represent or act on another’s behalf in private affairs, business, or some other legal matter relating to insurance.
Insurance – Underwriting Property Use This refers to the occupancy, such as owner occupied, long-term or short-term rental as well as any potential business, farming, or commercial exposures that may exist on the property. These factor directly impact the determination of risk for underwriting purposes.
Insurance – Underwriting Ride Share Ride share businesses involve the use of mobile applications through companies such as Uber and Lyft that connect people who need a ride with drivers to take them to their destination for a fee. The apps act as an intermediary between the riders and the drivers. These businesses may implicate situations in which the vehicle is a professional vehicle and also situations in which the driver is using their personal car. This includes risk determinations based on ride share arrangements such as personal vehicle, leased vehicle, professional transport agency etc.
Insurance – Underwriting Roof Legislation and regulations pertaining to the use of factors such as roof condition, age, shape, type, covering, geometry to evaluate insurance risk for underwriting.
Insurance – Underwriting Short Term Rentals Legislation and regulations pertaining to evaluating insurance risk for property that is rented for periods of less than one month at a time.
Insurance – Underwriting Sinkhole Legislation and regulations pertaining to the policy underwriting risks against a depression in the surface of the ground caused by the sudden collapse due to weakening of the land’s surface layer.
Insurance – Underwriting Statement of Residency Legislation and regulations pertaining to a state requiring a Statement of Residency (SOR) for taking an insurance policy.
Insurance – Underwriting Take All Comers Legislation and regulations pertaining to requirements of insurers to insure residents of certain states where they sell personal lines of automobile insurance in regardless of the carrier’s market restrictions.
Insurance – Underwriting Trade Practices Legislation and regulations pertaining to measures that address unfair or deceptive trade practices related to prejudicial treament of certain specific people relating to insurance. This includes but are not limited to making false or misleading statements, providing false information in relation to underwriting of risk.
Insurance – Underwriting Trusts An insurance trust is an irrevocable trust set up consisting of a life insurance policy as the asset, wherein both the owner and beneficiary of the insurance policy is the trust itself. It protects an estate and its beneficiaries by allowing the grantor of the policy to control how insurance policy proceeds are used after passing away to avoid large estate taxes.
Insurance – Underwriting Underwriting Underwriting is the process insurers use to determine the risks of insuring a potential insured. It involves determining whether an prospective insured poses an acceptable risk and calculating a fair price for coverage. Includes legislation and regulations pertaining to underwriting, standards and guidelines for underwriting, including but not limited to actuarially justified and non-discriminatory, limitations on allowable reasons for declination, non-renewal and cancellation and required notices, unfair discrimination of an insured on the basis of gender, age, civil union etc.
Insurance – Underwriting Units per Building Legislation and regulations pertaining to the number of units in an insured property impacting the determination of risk for underwriting purposes.
Insurance – Underwriting Vacant Dwellings Legislation and regulations pertaining to the determination of risk in relation to a building that is devoid of any personal property used in the operations or activities usually conducted within it.
Insurance – Underwriting Wildfire Legislation and regulations pertaining to the evaluation of wildfire risk as it relates to insurance underwriting.
Insurance – Underwriting Year Licensed Legislation and regulations related to underwriting risk based on the year an insured member is licensed.
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Lending Credit Notices A written notice from a lender to the borrower relating to an occurrence of an event of default. Consists of documents pertaining to credit reports, proposed rules regarding collection activities, privacy requirements for recording keeping etc.
Lending Credit Regulations Document relating to rules embodied under federal and state statutes to protect consumers and provide guidelines for the credit industry. The purpose of these regulations is to promote the availability of credit to all creditworthy applicants without regard to race, color, religion, national origin, sex, marital status, or age.
Lending Disaster Recovery Disaster recovery is a subset of business continuity. It involves a set of policies, tools and procedures to enable the recovery or continuation of vital technology infrastructure and systems following a natural or human-induced disaster. An effective disaster recovery plan for a financial institution needs to ensure not only business continuity but also the protection of sensitive data.
Lending Flood Insurance Flood insurance is often required by mortgage lenders when properties are located in federally designated high-risk flood zones or floodplains. Flood insurance is a separate policy from homeowners insurance, which doesn’t typically cover damage or destruction by floods.
Licensing Collection Agency Many states license debt collection agencies to protect the public from abusive practices and to create minimum standards of operation. Licenses are generally required when an agency plans to collect debts from residents of a state. Each state may have different laws and requirements in this regard.
Licensing Debt Management The management of debt is a growing industry. State regulators have responded by expanding debt management licensure requirements or creating new license requirements for debt management companies.
Licensing Insurance Each state sets its own requirement for lines of authority, different types of insurance you might sell as an agent. Insurance law in different states might classify life insurance, accident and health insurance, property insurance and casualty insurance as separate lines of authority. Insurance licenses for each line are separate, unless the state allows to bundle some of them together.
Licensing Insurance Broker Insurance brokers are licensed insurance professionals representing consumers in their search for the best policy for their needs
Licensing Insurance Policy Insurance policy is a contract between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
Licensing Money Service Includes businesses that transmit or convert money, in one or more of the capacities including but not limited to currency dealers or exchangers, check casher, issuer of traveler’s checks, money orders or stored value, seller or redeemer of traveler’s checks, money orders or stored value, money transmitter, U.S. Postal Service. It encompass not only banks but also includes non-bank financial institutions.
Licensing Title Insurance Agent/Agency A title insurance agent/agency is hired at the beginning of the transaction to conduct a review of the public records to locate any claims against the property, such as tax liens and judgments. The title insurance agent/agency also verifies whether such liens are still active and what needs to be done to clear the liens.
Mortgage Lending Advertising This includes regulation of information and commercial communications in the mortgage industry relating to mortgage credit products shared by lenders, realtors, licensees, and contractors such as information about rates, programs, terms, financing etc.
Mortgage Lending Appraisals Real estate appraisals are used whenever a mortgage is involved in buying, selling or refinancing a property.
Mortgage Lending Credit Reporting Credit reports play a pivotal role in decisions to grant credit – including mortgage loans, auto loans, credit cards, and private student loans including by information contained in credit reports as part of the lending decision. These reports are also used in other spheres of decision-making, including eligibility for rental housing, setting premiums for auto and homeowners insurance etc. As the range and frequency of decisions that rely on credit reports have increased, so has the importance of assuring the accuracy of these reports.
Mortgage Lending Disaster Recovery Disaster recovery is a subset of business continuity. It involves a set of policies, tools and procedures to enable the recovery or continuation of vital technology infrastructure and systems following a natural or human-induced disaster. An effective disaster recovery plan for a financial institution needs to ensure not only business continuity but also the protection of sensitive data.
Mortgage Lending Disclosure Lenders must provide a Truth in Lending disclosure statement that includes information about the amount of loan, the annual percentage rate, finance charges (including application fees, late charges, prepayment penalties), a payment schedule and the total repayment amount over the lifetime of the loan.
Mortgage Lending Disclosure Regulations Documents pertaining to rules laid down for lenders to provide a disclosure statement that includes information about the amount of loan, the annual percentage rate, finance charges (including application fees, late charges, prepayment penalties), a payment schedule and the total repayment amount over the lifetime of the loan.
Mortgage Lending Foreclosure Foreclosure is a legal process by which a lender attempts to recover the amount owed on a defaulted loan by taking ownership of the mortgaged property and selling it. It usually occurs when a homeowner is no longer able to make mortgage payments as required or when the borrower fails to meet other terms in the mortgage document.
Mortgage Lending Foreclosure Notices Foreclosure action is initiated by a written public notice issued by the lender. If the mortgagor still unable to bring the loan up to date, the mortgage company may go through with foreclosure proceedings, after which it can sell the property to pay down the balance of the loan.
Mortgage Lending Foreclosure Regulations Documents issued formulating rules and regulations in relation to foreclosure proceedings upon default of mortgage payments.
Mortgage Lending Licensing Refers to license required by an entity making a mortgage loan for compensation or gain, directly or indirectly, or selling or offering to sell a mortgage loan to a non-institutional investor.
Mortgage Lending Mortgage Assistance and Relief The Federal Trade Commission (FTC), has issued a Rule to curb unfair and deceptive practices associated with mortgage assistance relief services. The Rule makes it illegal to charge upfront fees and requires specific disclosures in ads and recordkeeping requirements on companies and individuals.
Mortgage Lending Mortgage Broker Registration In order to operate a mortgage brokerage business, the mortgage broker must be licensed. The licensing and registration requirements differ from state to state. Includes rules, procedures and licensing requirements in different states.
Mortgage Lending Mortgage Insurance An insurance policy which protects a lender or titleholder by compensating lenders or investors in mortgage-backed securities for losses due to the default of a mortgage loan including if the borrower defaults on payments, passes away, or is otherwise unable to meet the contractual obligations of the mortgage.
Mortgage Lending Transactions Regulations Includes credit transactions (loan or credit sale) that is or will be used by the debtor primarily for personal, family, or household purposes and is secured by a mortgage, or other equivalent consensual security interest on a dwelling or residential real estate.
Operational Employment/HR Documents relating to rules, regulations, guidelines, agency updates, news updates in relation to human resources.
Operational ESG This concept finds documents related to Environmental, Social, and Corporate Governance issues.
Operational ESG – Environmental This concept filters for documents that relate to Environmental issues within the ESG space.
Operational ESG – Governance This concept filters for documents that relate to Governance issues within the ESG space.
Operational ESG – Social This concept filters for documents related to social issues within the ESG space.
Operational Marketing/Advertising Legislation and regulations pertaining to advertising, marketing, and telemarketing by insurance companies; Includes Do Not Call programs – state or federal programs permitting individuals to opt out of receiving phone call, emails or faxes under certain circumstances; Restrictions on when companies are permitted to call or contact customers or prospects.
Operational Reporting Requirements All industries have to comply with national and/or international financial reporting requirements depending upon the reporting regime they come under.This includes not only financial reporting requirements but also tight deadlines to provide reporting to regulatory agencies, debt holders, investors, and other key stakeholders. Timely financial reports provide insight for investors, creditors and other stakeholders to get an idea of the company’s creditworthiness and financial integrity. This helps them make rational decisions on lending or investing in the company.
Operational Risk Includes the risk of loss resulting from loss due to errors, breaches, interruptions or damages, either intentional or accidental, caused by people, internal processes, systems or external events. Financial risk includes credit risk, market risk and liquidity risk.
Operational Risk Management Legislation Documents with a set of rules and regulations that are indispensable and must be followed pertaining to management of operational and financial risk by institutions by the process of identifying, assessing and controlling threats to an organization’s capital and earnings. These risks stem from a variety of sources including financial uncertainties, legal liabilities, technology issues, strategic management errors, accidents and natural disasters.
Operational Risk Management Publications Documents issued by relevant agencies, entities or organizations to communicate relevant information to the public pertaining to management of operational and financial risk by institutions including but not limited to risk of loss due to errors, breaches, interruptions or damages, credit risk, market risk and liquidity risk.
Operational Vulnerable Person Abuse Includes the financial abuse of older and vulnerable adults can drain estates of assets and prevent beneficiaries under wills and trusts from receiving their inheritance. This includes having money or other property stolen, being defrauded, being put under pressure in relation to money or other property and having money or other property misused.
Privacy Internet Privacy Legistation Laws and regulations pertaining to the vast range of technologies, protocols and concepts related to giving individual users or other parties more privacy protections in their use of the internet. Internet privacy takes many forms, including mandatory privacy statements on websites, data sharing controls, data transparency initiatives and more.
Privacy Internet Privacy Publications Documents issued by relevant agencies, entities or organizations to communicate relevant information to the public pertaining to giving individual users or other parties more privacy protections in their use of the internet. It covers the amount of online security available for personal and financial data, communications, and preferences.
Securities Insiders Insider is a term describing a director or senior officer of a publicly traded company, as well as any person or entity, that beneficially owns more than 10% of a company’s voting shares.
Trusts Revocable/Irrevocable Trusts Trusts are revocable by default unless expressly stated otherwise. Generally, an irrevocable trust cannot be modified or revoked by the settlor after its creation. A revocable trust becomes irrevocable upon the death or incapacity of the settlor.
Trusts Vulnerable Person Abuse It includes illegal or improper use of a person with a disability’s money, property, or other resources for monetary or personal benefit, profit or gain.This includes, but is not limited to, theft, misappropriation, concealment, misuse or fraudulent deprivation of money or property belonging to the elderly or adult with a disability including but not limited to incapacity, mental illness, mental deficiency, physical illness or disability, advanced age, chronic use of drugs, chronic intoxication, or confinement is unable to meet their own needs. The financial abuse of older and vulnerable adults can drain estates of assets and prevent beneficiaries under wills and trusts from receiving their inheritance. This includes having money or other property stolen, being defrauded, being put under pressure in relation to money or other property and having money or other property misused.
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