ACORD Forms are revised regularly for several different reasons. In some instances, new forms are proposed by our members, or implementation communities may design them collaboratively to suit new business needs.
Existing forms may be revised to reflect changes in business practices. For example, changes in coverage practices or underwriting may occur that need to be reflected in new elements or revised forms instruction language.
ACORD tracks changes in legislative and regulatory requirements country-wide. Some changes to forms result from new insurance department requirements, typically for auto ID cards, binders, certificates of insurance, and applications. ACORD is required to file certain forms with state insurance departments for approval, even when changes to the forms arise from changes in business practices and not regulatory requirements.