Best Answer


User Avatar

Wiki User

10y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: Do you have to disclose pending claims to new insurer?
Write your answer...
Still have questions?
magnify glass
Related questions

What happens is you have a pending claim and are involved in another accident before the pending claim is settled?

You will now have two claims pending. Additionally depending on the circumstances of the accidents and a fault determination you will likely be paying a "LOT" more for your insurance in future. You may also find your policy cancelled or non renewed by your current insurer and may have difficulty finding a new insurance company that is willing to accept you.

Can you change homeowners insurance companies if you have a claim with the old company?

Sure, So long as you disclose the previous claim to the new company. Failure to inform the new insurance company of previous claims is insurance fraud by omission of a known fact and is a felony offense. Should the new insurer find out that you intentionally tried to conceal the previous claims they can deny any and all coverage under the new policy.

How do you get a Writ of Execution for small claims in buffalo New York?

how can i file for discovery and force a compnany to disclose there bank info to me for a small claims judgement in buffalo new york

Your business insurance expired you need to get new what can you do had no claims pending just let expired now i need new?

business was slow had a policy it ran out can i get new insurance with another company

When getting a new quote for auto insurance do you have to disclose a claim if the police and no one else were called will they find out?

Most insurance companies report the claims that they pay to the C.L.U.E (Comprehensive Loss Underwriting Exchange)database. This means that your claim will show when your new or prospective company gets the C.L.U.E report. You can't escape your claims.

What happens when your car insurance is cancelled by the insurance company?

What happens is that you get a new insurance policy, possibly with another insurer. Any unearned premium will be returned to you by your insurer.

What's the cheapest way to get auto insurance on a new car?

The cheapest way to get insurance on a new vehicle is to take out a policy directly with an insurer on the internet. By going through the insurer instead of an agent, you will save significantly.

How does an insurance company get started writing motorcycle policies?

The business of insurance is regulated by the individual states. In order for an insurer to transact business in a state, it has to become "authorized". This means that it has to submit a business plan, proposed rates, and otherwise follow a statutory scheme to get the authorization from the state insurance regulator. One of the big concerns of the regulator is finances, meaning that the insurer have sufficient assets to pay claims that are expected to arise from the policies that it issues. Motorcycle policies can be of a few types, including: 1. Those that cover property damage to the insured bike only; 2. Those that cover property damage only to another bike that the insured person carelessly causes; 3. Those that cover medical expenses incurred by the insured person as a result of an incident involving the motorcycle; 4. Those that cover damages for physical injury sustained by another person caused by the insured's negligence. The proposed insurer has to determine what coverages it wishes to offer. It then applies to the state regulator of each state in which it wants to transact business for authority to do so. This involves completing forms outlining all persons who operate the insurer, attesting to their background, submitting them to investigation, disclosing finances and other business connections. The proposed insurer also has to itself demonstrate its financial strength and show that it meets standards set by state law. Part of this includes "reinsurance", which is a kind of insurance for the insurer. That is, it is an insurance product bought by an insurer intended to transfer some of the risk that the new insurer assumes from its customers. It is intended to make sure that there is enough money available to pay claims, even if those claims exceed the immediate resources of the insurer. The new insurer also has to develop "forms". These are essentially the contract documents that define the scope of the risk that the insurer assumes. It also defines the limitations of that undertaking. The forms have to be approved by the state insurance regulator to ensure that they are fair to the consumer and that the coverage outlined in them is commensurate with the premium charged. The new insurer will also have to develop a method of distributing its insurance product. This could be through a network of independent or captive agents. An independent agent is one who has a contract with the insurer to sell its products, but who can also sell competing products. A captive agent is usually an employee of the insurer, but in all events, one who is prohibited from selling competing products.

How do you get your auto insurance records?

Auto insurance records are referred to as claims history reports. If you are receiving a quote for insurance and the new insurer is requesting a claims history letter or letter of experience, you will need to contact your prior company or agent to have it prepared. These letters can be faxed or mailed to you or your new insurance company. If you have been insured by more than one company in the previous 3 years you will need to contact each company you had insurance with to get a full report.

Does New York do interstate unemployment claims?

Yes, New York is part of the interstate claims network.

What can cause insolvency within a business?

Insurance companies can go insolvent when their reserve is less than the amount of expense in claims/business costs. That means when an insurer is taking on new business, they also have to make sure they save enough for the total destruction of every vehicle or home they insure.

Can you use current insurance on new car?

Yes, just contact your insurer and have them endorse your new car onto the policy.