Landmark Disaster

[Cyborg7]

Looks like landmark (accendo Aflac etc) has had a major issue that has resulted in some carriers completely stopping bankdrsfts? If a customer thought they were drafting on 6/19 third Wednesday- it didn’t. I can’t imagine how they resolve this .. unless I’m missing something it would certainly seem like a bazillion policies will fall off the books.

 

[theinsuranceman]

Looks like landmark (accendo Aflac lbl etc) has had a major issue that has resulted in some carriers completely stopping bankdrsfts? If a customer thought they were drafting on 6/19 third Wednesday- it didn’t. I can’t imagine how they resolve this .. unless I’m missing something it would certainly seem like a bazillion policies will fall off the books.

Do you think they will be the next one's to exit the FE arena?

 

[jdeasy]

Do you think they will be the next one's to exit the FE arena?

They aren't in the FE arena now. When they went all in on telesales they went under.

 

[cmutual]

I can't say publicly what the issue is.

That said, it doesn't take a genius to figure out why all transactions (drafts, new business, claims, services requests etc) would stop.

Aetna is not on the way out of the FE business. This is purely a landmark issue, and there's no eta regarding when it will be resolved.

 

[Rearden]

Is Juneteenth a bank holiday or just a federal holiday?

 

[goillini52]

Is Juneteenth a bank holiday or just a federal holiday?

Post Office was closed too, so Federal...I guess.

 

[goillini52]

I can't say publicly what the issue is.

Ahhhhh, come on...we won't tell anyone.

 

[Tahoe Ray]

Is Juneteenth a bank holiday or just a federal holiday?

Several carriers were closed that day too.

It's a federal holiday:

Federal Holidays

Welcome to opm.gov

www.opm.gov

Holiday Schedules

Contains a listing of the observed holidays for the the Federal Reserve System.

www.frbservices.org

 

[Cyborg7]

This will be quite interesting to see how the carriers deal with no premiums drafting at all. If it goes on for weeks …

 

[noah]

Called this afternoon to have a loan form sent out.
LBL says it’s a technical issue. All systems are down with no estimation of when they will return to normal.
Big mess.