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Imerica Health Insurance in Receivership
- Thread starter aufan
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- 14,808
re: Imerica Health Insurance
Good Lord - if they didn't sell Imerica then what? There's no one else in the market!
Good Lord - if they didn't sell Imerica then what? There's no one else in the market!
re: Imerica Health Insurance
This company is out of Colorado, and they are actually expanding their states right now. They are partially owned and backed by one of the largest financial institutions in Colorado. They appear to be stable and financially sound. Their products are competitive in many areas. I believe Texas is their largest producing state. Good luck.
This company is out of Colorado, and they are actually expanding their states right now. They are partially owned and backed by one of the largest financial institutions in Colorado. They appear to be stable and financially sound. Their products are competitive in many areas. I believe Texas is their largest producing state. Good luck.
- 9,744
re: Imerica Health Insurance
What is it the leads you to believe they are "stable and financially sound"? Can you cite a rating by a rating agency? What leads you to this conclusion?
This is the same thing that they said a couple of years ago when they were based here in Tampa - right before they went out of business.
Were you in the business then?
What is it the leads you to believe they are "stable and financially sound"? Can you cite a rating by a rating agency? What leads you to this conclusion?
This is the same thing that they said a couple of years ago when they were based here in Tampa - right before they went out of business.
Were you in the business then?
re: Imerica Health Insurance
Still doing research here in TX.---- Per the agent, they pulled their application while they re-alligned their programs to the new Imerica offering. Calling Corp Office tomorrow to get their story. ----- They have 0 complaints filed thru 2007 in TX. BCBS has a complaint ratio of >3.0. TX is one of the most strict states for reserves. Companies can't get rated unless 5 yrs. AIG was "A" rated the day before they fell. ---- I am not hearing or finding issues with Claims. Agents says he writes BCBS and is still comforatble moving business to Imerica. ---- I am not arguing the conservative position of Big Names, but while I am in very good health, this might be a time to try a company with good rates and policy terms that seem more favorable.
Still doing research here in TX.---- Per the agent, they pulled their application while they re-alligned their programs to the new Imerica offering. Calling Corp Office tomorrow to get their story. ----- They have 0 complaints filed thru 2007 in TX. BCBS has a complaint ratio of >3.0. TX is one of the most strict states for reserves. Companies can't get rated unless 5 yrs. AIG was "A" rated the day before they fell. ---- I am not hearing or finding issues with Claims. Agents says he writes BCBS and is still comforatble moving business to Imerica. ---- I am not arguing the conservative position of Big Names, but while I am in very good health, this might be a time to try a company with good rates and policy terms that seem more favorable.
- Staff
- #27
re: Imerica Health Insurance
Give me a call.....512-260-0856....
Well I just saved someone else from making a Imerica Mistake....
Give me a call.....512-260-0856....
Well I just saved someone else from making a Imerica Mistake....
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re: Imerica Health Insurance
I had someone call me the other day that was looking at health insurance and they were contacted by ??? and was selling them on Imerica! I tried to tell them that Imerica was not a rated carrier and their total assets were less then $5M. ???sent them a letter saying this..
"Currently, the company has 29 distinguished investors that range from private individuals to private organizations that are generally in the healthcare, insurance and banking industries. Imericas largest investor and financial services partner is FirstBank, Colorado's largest locally owned community bank with over $8million in assets. Also the company is reinsured by Munich Re America. It is one of the worlds largerst reinsurance companies given an A+ rating by A. M. Best. Due to the fact Imerica Life and health insurance company is a highly regulated entity by each state division of insurance offices in every state that we are currently licensed in, we are required to provide financial stability to the levels set forth by each respective state regulation".
I had her go to our states department of insurance and she called them...and they said that they get tired of agents sending them to the department of insurance to hear crap like this. I guess I am trying to find out if these guys are worth anything...I understand that they are not rated, but come on, I feel that these people are going to get hit hard if something happens! We are have access to every carrier in out state, but I told them that our E&O would not even cover us if we sold Imerica. If anyone has valid information, I am all ears!
The agent told them that we had NO idea what we were doing and that they had a solid pan with a solid carrier. I have talked to other agents in regards to Imerica, and they said that they would not touch them, but I cannot find enought evidence.
Thank you!
I had someone call me the other day that was looking at health insurance and they were contacted by ??? and was selling them on Imerica! I tried to tell them that Imerica was not a rated carrier and their total assets were less then $5M. ???sent them a letter saying this..
"Currently, the company has 29 distinguished investors that range from private individuals to private organizations that are generally in the healthcare, insurance and banking industries. Imericas largest investor and financial services partner is FirstBank, Colorado's largest locally owned community bank with over $8million in assets. Also the company is reinsured by Munich Re America. It is one of the worlds largerst reinsurance companies given an A+ rating by A. M. Best. Due to the fact Imerica Life and health insurance company is a highly regulated entity by each state division of insurance offices in every state that we are currently licensed in, we are required to provide financial stability to the levels set forth by each respective state regulation".
I had her go to our states department of insurance and she called them...and they said that they get tired of agents sending them to the department of insurance to hear crap like this. I guess I am trying to find out if these guys are worth anything...I understand that they are not rated, but come on, I feel that these people are going to get hit hard if something happens! We are have access to every carrier in out state, but I told them that our E&O would not even cover us if we sold Imerica. If anyone has valid information, I am all ears!
The agent told them that we had NO idea what we were doing and that they had a solid pan with a solid carrier. I have talked to other agents in regards to Imerica, and they said that they would not touch them, but I cannot find enought evidence.
Thank you!
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re: Imerica Health Insurance
Imerica.
In the market.
Out of the market.
Back in the market.
Originally had their own marketing team.
Now use IMO's.
Originally out of FL.
Now out of CO.
Unrated, unproven.
Why even think of placing clients with them when there are solid, proven, rated carriers?
Imerica.
In the market.
Out of the market.
Back in the market.
Originally had their own marketing team.
Now use IMO's.
Originally out of FL.
Now out of CO.
Unrated, unproven.
Why even think of placing clients with them when there are solid, proven, rated carriers?
re: Imerica Health Insurance
Bottom line is, I would not get involved with Imerica! Just trying to explain to this family that what they have is junk. This guy in Dallas is telling them otherwise. I feel for this family and all they wanted was a good plan that would take care of them. They have seen all the rates with all the other carriers and I was placing them with GR, but they are not moving until I can show them something bad with Imerica. I thinkg Dept of Insurance backed up Imerica, which when we first called into them, the lady said they are limited on total assets. Cant believe they had less then $5m, but they will sell life time max of $5m. Makes no sense to me. If anyone has something concrete, please let me know....something that I can show them. I have already told them that they are unrated and no assets to show for.
Bottom line is, I would not get involved with Imerica! Just trying to explain to this family that what they have is junk. This guy in Dallas is telling them otherwise. I feel for this family and all they wanted was a good plan that would take care of them. They have seen all the rates with all the other carriers and I was placing them with GR, but they are not moving until I can show them something bad with Imerica. I thinkg Dept of Insurance backed up Imerica, which when we first called into them, the lady said they are limited on total assets. Cant believe they had less then $5m, but they will sell life time max of $5m. Makes no sense to me. If anyone has something concrete, please let me know....something that I can show them. I have already told them that they are unrated and no assets to show for.
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