Buh Bye Assurant - Up for Sale / Exiting Market

[AllenChicago]

I wonder who will be next to follow Assurant's lead OUT of the market - surely the dominos are beginning to fall - they are all having huge losses

Not all are having "huge" losses. Aetna CEO Bertolini says that ObamaCare is being good to them.

But some companies are deciding to exit markets on a state-by-state basis. Saw recently that Humana is pulling out of a state this Summer.

 

[Yagents]

It all depends on who is writing down their expected receivables from the non existent pool of money

S&P sees PPACA risk corridors program funding gap | LifeHealthPro

 

[somarco]

Not many regionals playing, other than co-ops.

London Bridge is falling down ..........

 

[taterpeeler]

Not many regionals playing, other than co-ops.

London Bridge is falling down ..........

we have several regional players so I guess that could be spun both ways... Assurant aint no damn regional player.... they were no player, lets all not make a bigger deal out of this than it is

 

[Yagents]

we have several regional players so I guess that could be spun both ways... Assurant aint no damn regional player.... they were no player, lets all not make a bigger deal out of this than it is

You should get out of Texas sometime and get a non res license. You might learn something

 

[Dave020]

Assurant aint no damn regional player.... they were no player, lets all not make a bigger deal out of this than it is

Assurant Health began operations in 1892 as the 'La Crosse Mutual Aid Society'. I wouldn't want to belittle a company which successfully provided health coverage for 123 years, but that's just me. For reference, that's 37 years before BCBS was formed.

 

[taterpeeler]

you should get out of texas sometime and get a non res license. You might learn something

please provide me 1 reason why?

 

[somarco]

you should get out of texas sometime and get a non res license. You might learn something
please provide me 1 reason why?

People from the other 56 states can spell

 

[Yagents]

please provide me 1 reason why?

Last I heard, ACA doesn't revolve around the BCBS TX HMO

 

[FLM2]

Assurant will be letting their internal sales staff go pretty soon, probably in the next two weeks.

The chance of a sale is pretty close to zero, I guess those of us who wrote lots of Assurant business will be getting a new FYC during the next OEP wherever we move our clients.

As much as I have liked writing Assurant business the past two years it was clear to me that the elimination of commissions was a permanent move and I'd rather have them gone than in the limbo of accepting business with no compensation; I had to write about 5 cases with them for 0% comp in order to satisfy clients, that isn't happening from this point forward.