American Community

hamben

Super Genius
100+ Post Club
214
Just a heads up my fellow agents. There is an awful lot of unrest at American Community right now.
I just got off the phone with someone in their legal department and they are pretty worried about their financial position right now. A lot of top management was let go this week as well as state managers. My prediction is they will be in receivership in the near future. (This is just my opinion)
I went through this same type of thing when Conseco got out of the Health business and I had about 500 clients lose their coverage with 30days notice. The thing agents need to understand if the company goes into receivership, commissions if any will be the last thing paid…
 
And people keep writing these second tier carriers that offer you and the client NOTHING. WTF?
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Maybe American Community lost their shirt paying all their built in accident rider claims and paying claims on their embedded deductible HSA products? Keep writing them you 2nd tier carrier pimps. I love replacing these botique carriers who were never competitively priced anyway and offered nothing special in benefits. I just love guys selling these dinky carriers thinking they are offering something 'special'. Wowie Zowie: A built in accident benefit. I can do the same thing for LESS MONEY with a stand alone accident carrier. And who ever understood their "Community FLEX" plan anyway? What a ratsnest.
 
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I remember arguing with someone on this Forum a year or two ago about American Community Mutual. I said I won't deal with them and she she just kept justifying why she was going to continue to write with them.

I know she still participates (or lurks) around here.
 
JUst the facts. released 2 day

American Comm Mut Ins Co Profile for 2009​
NAIC Company Code:​
60305 Group Code:
State of Domicile:
Michigan Group Name:
Business Type:
Life/Accident/Health FEIN: 38-1290976

Assets:​
$107,070,831 Direct Premiums Earned &
Deposit-Type Contracts:

$367,355,914​
Liabilities:​
$85,969,400 Capital and Surplus: $21,101,431

Assets to Liability Ratio::​
124.55

Policyholder Contact:​
Address: 39201 SEVEN MILE ROAD, LIVONIA, MI 48152-1094

Telephone: 734-591-4640- Web:
http://www.american-community.com
 
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