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…
Read MoreTag: independent agents
Italian insurance market looks healthy, attracts foreign investors and insurers
Despite the growing economic crisis in Italy, the nation’s auto insurance industry is showing promising signs of expansion. The industry is beginning to attract the attention of foreign insurers, consumers, and independent agents due largely to its strong presence on the Internet. Insurance sold through banks in Italy is also on the rise, imbuing the industry with tentative hope for future growth and solvency. According to the Institute for the Supervision of Insurance (ISVAP), one of Italy’s regulatory authorities, online sales of auto insurance rose by 7% in the first…
Read MoreAccident Insurance Co. seeks 100 new agents over 100 day period
Accident Insurance Co. (AIC), based in South Carolina, has announced that it is currently seeking up to 100 new independent agents within a span of 100 days. Starting on July 12 and running until October 12, the insurer will be seeking to add a sizeable number to its independent agents within eleven states that are among the eighteen in which it currently writes. The states in which AIC is seeking new partner agencies are: Mississippi, Kentucky, Alabama, Indiana, Oklahoma, Arizona, Illinois, Georgia, Arkansas, Virginia and Indiana. Chief marketing officer Jon…
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