Method and apparatus for performing assessments
First Claim
1. A method for performing an assessment comprising:
- determining with a triggering system in a computer device when an assessment of at least one insolvency fund associated with a plurality of insurers is needed based on one or more triggers;
performing with an assessment processing system in the computer device the assessment of the at least one insolvency fund based on one or more factors when the determining determines the assessment is needed;
allocating with the assessment processing system in the computer device a member assessment amount to each of the plurality of insurers based on the performed assessment; and
providing with a communication system in the computer device notification of the allocated member assessment amount to each of the plurality of insurers.
3 Assignments
0 Petitions
Accused Products
Abstract
Described are techniques used in connection with providing insolvency services in connection with guaranty funds, such as property and casualty guaranty funds, upon the occurrence of an insurance company insolvency. A client/server system provides for creating and maintaining a database of state and insurance company member information. Operations, such as calculations, are performed in accordance with different rules that are associated with varying state laws and rules that may vary with insurance account. A range of functions are performed by the system including report generation, unearned premium calculations, assessment calculation, claim entry and management, administrative tasks, and other related operations. The system which provides services and operations in connection with managing insolvency funds may interact with other applications and systems, such as an accounting system, word processing system, and the like by generating data used as input in these other systems. Also described is a database schema representing a relationship between the different data entities that may be stored in a database in connection with performing insolvency operations.
29 Citations
27 Claims
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1. A method for performing an assessment comprising:
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determining with a triggering system in a computer device when an assessment of at least one insolvency fund associated with a plurality of insurers is needed based on one or more triggers; performing with an assessment processing system in the computer device the assessment of the at least one insolvency fund based on one or more factors when the determining determines the assessment is needed; allocating with the assessment processing system in the computer device a member assessment amount to each of the plurality of insurers based on the performed assessment; and providing with a communication system in the computer device notification of the allocated member assessment amount to each of the plurality of insurers. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9)
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10. A computer readable medium having stored thereon instructions for performing an assessment comprising machine executable code which when executed by at least one processor, causes the processor to perform steps comprising:
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determining when an assessment of at least one insolvency fund associated with a plurality of insurers is needed based on one or more triggers; performing the assessment of the at least one insolvency fund based on one or more factors when the determining determines the assessment is needed; allocating a member assessment amount to each of the plurality of insurers based on the performed assessment; and providing notification of the allocated member assessment amount to each of the plurality of insurers. - View Dependent Claims (11, 12, 13, 14, 15, 16, 17, 18)
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19. A system comprising:
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a triggering system that determines when an assessment of at least one insolvency fund associated with a plurality of insurers is needed based on one or more triggers; an assessment processing system that performs the assessment of the at least one insolvency fund based on one or more factors when the determining determines the assessment is needed and allocates a member assessment amount to each of the plurality of insurers based on the performed assessment; and a communication system that provides notification of the allocated member assessment amount to each of the plurality of insurers. - View Dependent Claims (20, 21, 22, 23, 24, 25, 26, 27)
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Specification