Responsibility
Life Insurance Settlements, Inc. prides itself on following the highest standards of corporate responsibility to its business affiliations and associates, individual clients and society as a whole.
Errors & Omissions
LIS has acquired Errors & Omissions insurance coverage for the firm from a reputable casualty insurer to insure financial responsibility of $3,000,000 per occurrence and $3,000,000 in the aggregate. †Not only does the policy insure the organization, but LIS also has the capability to provide Certificates of Liability Insurance coverage to "independent" agents.
State and HIPAA Compliant Application
The Client & HIPAA Application has been Approved in the domicile home State of Florida by the Office of Insurance Regulation with filing number VIA 03-12329 on 10/02/03.
Included in its client applications, whether in states that require specific filings or in those that allow universal formats, LIS has adopted authorizations for disclosure of protected health information ("PHI") as defined under the privacy regulations promulgated pursuant to the Health Insurance Portability and Accountability Act of 1996. The authorizations include the seven core elements as follows:
- Who may authorize the disclosure of the PHI
- Identification to whom the disclosure is to be made
- Identification of the PHI to be used or disclosed
- Stating the purpose of the disclosure
- Containing a date or event on which the request will expire
- Containing the patient's/personal representative's signature and date signed
- If signed by a personal representative, containing a description of his/her authority to act for the individual.
The authorizations also include the three required statements of validation stating that:
- An individual may revoke an authorization in writing, as well as how to revoke, and exceptions to an individual's right to revoke
- Treatment, payment, enrollment or eligibility of benefits may not be conditioned on obtaining the individual's authorization
- The potential for the PHI to be re-disclosed by the recipient and thus, is no longer protected under the Privacy Rule.
* Additional contracts and medical records of the applicant-viator(s) may be needed to complete the appraisal process.
† Only Viatical or Life Settlement Brokers are eligible to receive any compensation or E &O coverage in the State of Louisiana & Texas. |
