Do your employees need a supplemental accident benefit if they have a health plan?

Supplemental benefit accident health insurance with Allstate for small businesses explained #localagent #businessinsurance #accidentinsurance

Savvy employers are using this insurance to help workers to fill coverage gaps. A supplemental accident benefit, like other types of supplemental insurance policy, is a type of coverage that fills the gap left behind by many types of traditional health plan. Employers are increasingly offering this coverage as an appealing way to draw talented, loyal employees.  Employers give the employee the option to pay all or some of the costs of this coverage. Adding a supplemental accident benefit and other similar forms of “sidekick” coverage to a benefits package,…

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GEICO reports over 20 percent drop in property damage and collision claims last year

Property damage - car accident - damage

The auto insurer’s data showed its claims fell through the floor throughout the first year of the pandemic. In a recent statement from the company, GEICO shared data showing that its collision claim frequency fell by “twenty-three to twenty-four percent” and property damage dropped by even more. The dropping claims frequency during the pandemic’s first year led to far greater year-over-year profits. The onset of the COVID-19 crisis in 2020 vastly reduced the property damage and collision claims, allowing GEICO to more than double its profitability when compared to 2019.…

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