It is easy to understand why regulatory compliance can be overlooked when it comes to subrogation procedures. A complex regulatory environment, coupled with subrogation rules that can differ dramatically from one state to another, means that insurers may face a number of challenges when deciding whether to subrogate. Even so, insurers can reduce loss by taking proactive steps ahead of time.
Missing a single regulatory change — even in one state — can lead to outdated internal subrogation processes. With the varying degree of requirements and a high potential for missed opportunities and costly mistakes, insurers must fully understand regulations so they can properly enter subrogation activities.
Lost in Translation?
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