Federal laws such as the Gramm-Leach-Bliley Act and HIPPA, apply to claims handling and to the professional activities of the claims representative. True False
Federal laws such as the Gramm-Leach-Bliley Act and HIPPA, apply to claims handling and to the professional activities of the claims representative. True False
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Question
Federal laws such as the Gramm-Leach-Bliley Act and HIPPA, apply to claims handling and to the professional activities of the claims representative.
True
False
Expert Solution
Step 1
Gramm - leach - bliley Act - used by the financial institutions before giving any kind of loan, to explain the lender /customer about their information - sharing practices to safeguard sensitive data.
HIPPA (HIPAA) - The Health Insurance Portability and Accountability Act 1996.
That used by the insurance company to create a national standards to protect sensitive patient information from being disclosed without the patient consent.
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