Preparing for takeoff
Article Abstract:
The voluntary insurance industry certification group Insurance Marketplace Standards Assn (IMSA) have six principles of ethical market conduct which its members must comply with. The principles include high standards of honesty and fairness, cutomer-focused sales and services, active and fair competition, fair handling of complaints, honest advertising and review of marketing and sales. IMSA is yet to receive applications for membership but about 700 persons have already attended IMSA trainings. Assessment costs for IMSA membership may range from 10,000 to 250,000 depending on company size.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1997
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Avoiding the IRS' grim reaper
Article Abstract:
The Health Insurance Portability and Accountability Act of 1996 provides tax benefit for terminally-ill individuals who owns life insurance policies. The law allows terminally-ill persons to sell life insurance policy to a viatical settlement company and exclude the sales proceeds from the gross income. With the legislative amendment, terminally-ill individual who owns life insurance policies may benefit even without the need of spending additional money on health care.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1997
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Fighting the client
Article Abstract:
Insurance companies are aggressively fighting lawsuits brought by policyholders. Direct insurers in the property/casualty sector likely spend over $1 bil per year on 'coverage litigation,' according to the American Insurance Association. Class action lawsuits can be particularly damaging for insurers as they often involve thousands of defendants.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1997
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- Abstracts: Qualifying for retirement. A multifront term war
- Abstracts: Working it out. Unlocking the CPA market. Growth in direct marketing may yield future profits
- Abstracts: Developing a Brand Name. A brewing global reinsurance turf war. Masters of disaster: earthquakes in the Midwest and East Coast would be particularly costly to insurers
- Abstracts: Should you outsource health & welfare benefit services? The business case for integrated benefits. Purchasing for value in health care benefit management