Tag: insurance brokerage

Richard F. (Rick) Jones Jr. Becomes Third FTJ Officer to Lead AIPAGIA

PR Article
InsuranceBee and Hiscox launch insurance agent partner program

KANSAS CITY, Missouri (May 7, 2018) – Richard F. (Rick) Jones Jr., longtime executive at Forrest T. Jones & Company, Inc. (FTJ), was recently appointed president of the American Institute of Professional Association Group Insurance Administrators (AIPAGIA). Jones became the third generation of the family-owned company to head AIPAGIA, an exclusive association of top insurance administrators, TPAs, marketers, and brokers providing insurance marketing, expertise, and member-benefits to affinity groups and associations around the country. Jones began his one-year term as president in April at the annual AIPAGIA meeting in Sanibel…

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Willis Group claims captive insurance companies could be key to future of insurance industry resiliency

Marc

The global insurance industry is undergoing extreme change. The change is brought on by the rapidly evolving risks that the industry is facing. As risk changes, insurers are feeling pressure to become more adaptive and resilient against emerging threats. The Willis Groups, one of the world’s largest insurance brokers, believes that captive insurance companies could be the key to weathering the storms of the future. Joe Plumeri, CEO of the Willis Group, attending this year’s World Captive Forum in Miami, Florida, highlighted the usefulness of captives to insurers around the…

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HHS upholds medical loss ratio provision, changes some aspects of the overarching law

Marc

Despite daunting opposition, the Department of Health and Human Services has remained firm on the medical loss ratio provision of the Affordable Care Act. The medical loss ratio provision requires that insurers pay no less than 80% of premium money on improving medical care. The provision has gained rabid opposition from the nation’s health insurance companies, who have been fighting to have administrative expenses and independent insurance broker fees removed from the mandate. The HHS, however, has issued a final ruling on the matter, claiming that most of the nation’s…

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Insurance groups rally against New York rule that puts pressure on agents

Two insurance groups have filed an appeal with the New York Supreme court regarding a decision regarding the state’s new broker disclosure rule. The rule, New York Insurance Regulation 194, requires insurers to inform policyholders on how policies are paid out even if such information is not requested. Several other states have similar rules, much to the chagrin of the insurance industry that often withholds information it deems arbitrary. The two insurance groups are looking to have the rule revoked. The Independent Insurance Agents & Brokers of New York and…

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