Shady agent, viatical mix creates recipe for fraud
Article Abstract:
Life insurers are being defrauded by unscrupulous agents who write policies for terminally-ill people who then sell the policies to viatical settlement companies. The problem has increased dramatically since people with AIDS and HIV began using viatical settlements to cash in policies. Agents often get around testing requirements by writing numerous small policies that do not require blood tests. Insurers must be more careful about accepting policies that are close to their no-test limits, and should lobby for tougher anti-fraud laws.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1996
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Insurers' profits decline but premiums advance
Article Abstract:
Sales of credit life insurance and credit accident and health (A&H) policies produced 24.2% smaller profits in 1993, following a 16% gain in 1992. Premiums rose 6.4% in 1993 for these policies, primarily sold by automobile dealers, credit card companies and financial institutions. Statistics are shown for after-tax profits of credit life and A&H for ten years. Also, premiums and benefits are listed for the 100 largest credit life insurers.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1995
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Managed care, indemnity seek healthy coexistence
Article Abstract:
The managed care and indemnity health insurance sectors are striving to achieve a state of healthy coexistence as the healthcare crisis continues to plague the US. Due to the variations between states in laws governing their sector, insurers are more concerned about states' regulatory environments than they are over any threat from the federal government. Both managed care and indemnity are expected to survive the healthcare crisis.
Publication Name: Best's Review Life-Health Insurance Edition
Subject: Insurance
ISSN: 0275-0988
Year: 1996
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