Owens & Associates Investigations (OAI) has been an NAIC-approved Third-Party Vendor for background reports since 2000.
See our NAIC Third-Party Verifications page for an overview of our services.
Below, we explain what we are required to verify, how the verification proceeds, and why we provide a tailored cost estimate for each affiant.
The Verification Process
To meet the Fair Credit Reporting Act (FCRA) and NAIC currency standards, we verify the items in the UCAA Form 11 biographical affidavit (bio) and report discrepancies in the provided information. We obtain criminal and civil court records through on-site searches or their equivalent, not through commercial computer databases.
What We Are Required to Verify
NAIC requires verification of the items below. At a minimum, OAI verifies:
- Personal identifiers (name, date of birth, Social Security number)
- Address history (ten-year scope)
- Employment, board memberships, and trustee positions (ten-year scope)
- Education (not limited to a ten-year scope)
- Professional licenses (not limited to a ten-year scope; maximum of three)
- Professional association memberships (not limited to a ten-year scope; maximum of three)
- Bankruptcies (ten-year scope)
- Criminal convictions — misdemeanor, felony, and federal court (ten-year scope)
- Civil litigation — lower, upper, and federal courts (ten-year scope)
- Uniform Commercial Code (UCC) filings (ten-year scope)
- Lien and judgment filings (ten-year scope)
Criminal and civil searches must be conducted in every county in which the affiant has resided, owned real property, worked or held officer or director positions, or attended a post-secondary or higher-education institution.
We also review the affidavit against current biographical affidavit instructions and UCAA FAQs and recommend the changes needed to bring it into compliance.
How the Verification Proceeds
Each verification follows this sequence. Searches do not start until we have the signed estimate and the retainer.
- Review the affidavit. We review the affidavits and prepare a no-charge estimate based on the items that must be verified for each.
- Obtain the signed estimate and retainer. We begin verifications when you sign the estimate—which serves as a California-required service agreement—and provide a 50 percent retainer.
- Verify personal identifiers and address history. We search the affiant’s Social Security number through an FCRA-compliant database that is not available to the public. That search often identifies additional names or addresses not listed on the affidavit. We confirm the new information with the affiant before proceeding with those searches.
- Complete the remaining verifications. We verify the remaining items, including on-site criminal and civil court searches or their equivalent in each applicable county.
- Review for NAIC compliance. We recommend affidavit edits to address NAIC guideline and FAQ compliance.
- Issue the report. When the investigation is complete, we send the report directly to the state department of insurance to which you are applying. Subject to the FCRA, we also provide you with a copy of the final report.
- Invoice the balance. We invoice the remaining balance based on the searches performed, time incurred, and costs advanced.
The current UCAA Form 11, including the Disclosure & Authorization forms, must be signed and notarized no more than six months before the application is filed. A new signature generally requires a new report.
Verification Fees
We cannot estimate the cost of a verification report before we review the affidavit because the cost depends on:
- Scope. The number and type of items that must be verified differ for each affiant. Searches must be performed in every county in which the affiant has affiliated addresses.
- Time. We bill at an hourly rate. The hours on the estimate follow the number of names and the number of counties affiliated with the addresses listed on the affidavit.
Additional costs that we cannot put on the estimate include:
- Unlisted names and addresses. The personal-identifier search often finds names or addresses not listed on the affidavit.
- Fees. We bill court and record-custodian fees at cost, assessed as searches are placed.
- Report delivery. Some states cannot receive a secured message or password-protected file and require overnight delivery of our reports.
The estimate is free. The 50 percent retainer starts the verification. We bill the balance after we issue the report.
