The purpose of the Financial Analysis Solvency Tracking (FAST) system employed by the NAIC is to speed-up the claims settlement process for insurers charged with delaying claims payments. quicken the approval of rates in prior approval states. quickly address market conduct complaints by consumers. prioritize insurance companies for additional regulatory action.
Added by Doris B.
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Step 1: Understand that FAST is designed to monitor insurers’ financial health and solvency, not to speed claims, approve rates, or handle consumer complaints. Show more…
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