Voluntary Advantage is bringing the Voluntary Benefits industry together

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November 21, 2022 / Denver, Colorado – Voluntary Advantage is a newly formed entity that has been created to bring the Voluntary Benefits industry together and promote innovation and the open share of ideas, strategies, and information.  Voluntary Advantage was founded by Trevor & Heather Garbers and will publish a monthly magazine titled “Voluntary Benefits Voice” which will feature articles on important topics in our industry today including: trends, compliance, strategies, carrier news, product releases, and more. The Voluntary Advantage website (www.voluntary-advantage.com) will publish a Calendar of Events sharing information…

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Petline and NFP collaborate on new US pet insurance

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The companies have come together to offer a new line of coverage products for animal owners to buy. The Petline pet insurance company has teamed up with leading property and casualty broker NFP to offer a new line of products to cover cats and dogs and give US animal owners peace of mind. The insurer has been active in the market since 1989 and describes itself as a leader in that category. The Petline flagship pet insurance brand, Petsecure, offers owners a spectrum of different solutions to fit the individual…

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Allstate announces new jobs through diversity program

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The insurer has created new entry-level asset management positions with the new AMDA program. Allstate has announced the creation of a new talent pipeline in the asset management industry for the direct purpose of boosting diversity while removing barriers. By working with William Blair Investment Management and LGIM America, the Asset Management Diversity Accelerator (AMDA) was created. The AMDA is a development program for diverse and under-represented jobseekers. The AMDA works as a two-year rotational development program, providing recruits with considerable experience within the industry. Simultaneously, it helps those recruits…

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Humana is leaving Colorado’s small business health insurance market

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The insurer has announced that it will be exiting the employer group marketplace within 18 months. Small business health insurance provider Humana has announced that it will be stepping out of the state’s employer group market within the next 18 months. The announcement was first made in a letter the insurer issued to brokers and agents in the state. While the letter was a formal announcement to the brokers and agents who sell Humana’s health insurance policies, at the time this article was written, the insurer had yet to officially…

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Toyota auto insurance takes its first steps into Texas

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The automaker’s branded coverage product launched at the end of last year and is expanding. Toyota auto insurance (TAI), the automaker’s branded coverage product which launched last December, has now announced that it is moving into Texas for the first time. Texas is the second largest market in the United States and will be an important move for the insurer. The insurer called the move a “major milestone” for its product. Including Texas, TAI is now available in eight US states, including Arizona, Illinois, Indiana, Missouri, Ohio, South Carolina, Tennessee,…

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Farmers Insurance Group rating downgraded by Moody’s Investors Service

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The insurer’s IFS rating was slashed from an A3 to an A2, while its rating outlook is stable. Moody’s Investors Service has taken Farmers Insurance Exchange’s insurance financial strength (IFS) rating down a degree from A3 to A2, and its surplus note rating from a Baa2 (hyb) to a Baa3 (hyb). That said, its ratings outlook is expected to remain stable. The ratings downgrade is a reflection of the weakness of the insurer’s underwriting results. Farmers Insurance Group saw week underwriting results and the ratings downgrade was a reflection of…

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State Farm sees a drop in auto insurance claims for animal collisions

Auto insurance - Deer by side of road

Compared to last year, there has been a 5.5 percent decrease in accidents with wildlife. State Farm has released its statistics this year for auto insurance claims made as a result of animal collisions, and the news is good as the instances have decreased by a substantial 5.5 percent. It should still be noted that November is considered to be the most dangerous month. From July 2021 through June 2022, there were an estimated 1.9 million collisions with animals on roads across the United States. Still, that is a decrease…

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