She explains how failing to meet these requirements can result in sanctions or fines from the Department of Insurance. Eileen emphasizes the value of conducting full claims audits to evaluate compliance with licensing, best claims practices, reserving, and other requirements. She also highlights the specific time requirements for certain states such as California and Texas, and how Pro can help ensure that companies remain compliant. Eileen mentions that a full claims audit can be a valuable tool to assess how a company is performing, identify areas for improvement, and provide resources for compliance. Pro’s team of auditors can provide assistance with subrogation procedures, recoveries, reserving, financials, and reporting to ensure that a company is on the right track. Overall, Eileen stresses that Pro’s expertise can add value to any business in the insurance industry.
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