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Is there compensation if the insurance carrier does not pay a clean claim on time?

April 26, 2017claim clean compensation Insurance pay time

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Is there compensation if the insurance carrier does not pay a clean claim on time?

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A carrier that does not pay a clean claim within 30 or 40 calendar days after receipt of all the required information must include late interest at the rate of 10% per year (N.J.A.C. 11:22-1.6(c)).