- 5,938
Paul - they didn't go "out of business" - they were taken over and moved. Please show me where it states they went out of business?
Thanks,
Tom
Thanks,
Tom
opinion: best catastrophic or Hospital surgical plan
- Thread starter PMazzapica
- Start date
- 9,744
Back in 2006, they had their "Home Office" here in Tampa (small - only about ten employees). All the admin, etc. was done by a big TPA here called HPS.
They stopped new sales, and all the employees were let go.
What do you call that?
About a year, year and a half later they had some kind of reincarnation..somewhere in Colorado?
- 14,809
https://apps.tdi.state.tx.us/pcci/pcci_show_profile.jsp?tdiNum=30350
When you think if Imerica the Benny Hill theme should play in your head. I'm pretty sure I have an uncle with more money then these guys.
When you think if Imerica the Benny Hill theme should play in your head. I'm pretty sure I have an uncle with more money then these guys.
- 9,744
- 9,744
I know you are kind of new to the business. Here's some questions you should be asking:
Are they re-insured?
By whom?
Claims north of what amount?
- 14,809
...1.5 mill in premiums in TX as of Dec '07. I know a single agent who writes that amount.
G
Guest
Guest
The also have a ratings button and mention AMBest but when I checked AMBest can't find Imerica even listed.
That's scary!
[FONT=ARIAL, HELVETICA]Search Results
No Financial Strength or Issuer Credit Rated companies were found:
Criteria Used: Company Name: Company names starting with IMERICA LIFE AND HEALTH[/FONT]
That's scary!
[FONT=ARIAL, HELVETICA]Search Results
No Financial Strength or Issuer Credit Rated companies were found:
Criteria Used: Company Name: Company names starting with IMERICA LIFE AND HEALTH[/FONT]
Last edited by a moderator:
- 9,744
An A.M. Best rating has to be purchased by the company. They may have decided to take the Home Office employees (both of them) out to lunch instead of buying one.
The company must have, I believe, at least a three year operating and financial history.
Doesn't mean much anyway, Executive Life in Los Angeles was A+ right up to the day they were seized by the California Department of Insurance in '91...
Go figure.
- 5,938
I haven't encountered any problems with them and they have satisfied customers - at least the ones I've called. I checked them out with a couple of doctors in an area we market - no problems. I checked with a few hospitals in the same area - no claims problems. I didn't just jump off the turnip truck.
Health is only 15% of our mix - we'll keep an eye on it - but, so far so good . . . no sense in crying the "sky is falling" just yet. We haven't written an app with them yet - waiting till the 20th for the e-app solution.
Tom
Health is only 15% of our mix - we'll keep an eye on it - but, so far so good . . . no sense in crying the "sky is falling" just yet. We haven't written an app with them yet - waiting till the 20th for the e-app solution.
Tom
Don't recall the details, but doesn't really matter. Imerica was funded by a conglomerate of investors as I recall. European maybe? Some bank was behind them. Could have been an offshore captive even.
The carrier had never been in the health insurance business but may have been involved in special risk. Again, fuzzy on the details.
New carriers are not eligible for A M Best rating until they have been in existence for 5 years.
They had reinsurance. Seems like it was claims xs of $100k but that may not be right either.
I could never figure out why I needed an unrated carrier in my quiver. Especially one that had no experience in the health business.
The carrier had never been in the health insurance business but may have been involved in special risk. Again, fuzzy on the details.
New carriers are not eligible for A M Best rating until they have been in existence for 5 years.
They had reinsurance. Seems like it was claims xs of $100k but that may not be right either.
I could never figure out why I needed an unrated carrier in my quiver. Especially one that had no experience in the health business.
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