Premium Recoveries — BPO Insurance Services

RMS is the leader in premium collections where premiums are the fee paid for an insurance policy. The recovery of premiums is necessary when the payments have not been maintained as required by the policy, payments were credited in error or payment amounts were incorrect.

What We Do

RMS has the depth of industry knowledge and recovery expertise to investigate the situation efficiently and substantiate the facts. We will then clearly explain the details of the situation to the parties involved, thus eliminating questions or concerns, so that payment can be made. Typical premium collection situations include:

HIPAA Privacy Rule

RMS complies with all contractual obligations recommended or required by Health & Human Services for Business Associate Agreements under the HIPAA Privacy Rule.

  • Workers Compensation - RMS has state level expertise and knowledge with Workers Compensation laws and will investigate the initial policy claim as well as collecting monies paid to anyone, who in review, did not qualify for the payments.
  • Grace Periods - At RMS, we can verify and document that payments have been made within the limits of the grace period set forth by the insurance policy.  Should the premium payments have exceeded the grace period, we can work with the insurer as to how they would like the situation managed, such as notifying and collecting penalty payments required for the re-instatement or maintenance a policy.
  • Retrospective Adjustments – When insurance policies are reviewed, they may require a subsequent adjustment to the premium, after the policy expires, based on gains/losses generated during the policy period.  RMS can work with the insurer to notify, collect and adjust any and all polices affected by this review and policy modification.
  • Earned – A company becoming insolvent does not necessarily negate the terms of their insurance agreement and allow them to stop premium payments.  RMS can investigate the policy, document the situation and what is owed, and then work with the insured to collect the payments earned by the insurance carrier as per the terms of the contract.