How many days do insurers have to pay a Claims Disposition Agreement after it has been approved?

Insurers are required to pay a Claims Disposition Agreement within 14 days after it has been approved. This timeframe is crucial because it ensures that claimants receive timely compensation for their claims, promoting fairness and efficiency in the claims process. The stipulation is intended to protect the rights of the claimant, ensuring they are not left waiting indefinitely for a resolution once an agreement has been reached and approved.

The requirement for a specific number of days, such as 14, encourages insurers to adhere to operational timelines and helps claimants plan financially, knowing when they can expect payment. This aspect of the process is part of the regulatory framework designed to streamline claims handling and enhance the accountability of insurers.