- 11,280
I do not send in a check with United World. I fax in a voided one.
United Commercial Travelers of America
- Thread starter InsuranceJosh
- Start date
- 1,183
I wasn't aware they had the option to fax in the app, but I've only written a couple of apps.
I do my apps with UW online now.
- 11,280
How do you do that? I don't pay much attention to UW. I just write them when people request it.
I believe I'm part of the pilot program and I think it's only through Senior Market Sales. I'm sure it will be opened up to everyone before long. It's pretty nice. You complete the app online and then the client gets an email to finalize the process. They sign in to the website, enter their banking information and electronically sign the app. I never have to see them or collect any paperwork.
- 125
They justed launched in North Carolina a couple months ago. So, I'm sure you a being hammered by marketing companies.
We've found them to be very competitive in most of their new states. They do have states that their rating slope is a little steep.
As far as rate increases... They've been good for us the last three years. We've seen low single digit increases in some states and in states where it's been a double digit increase, they're still competitive.
I'm also pretty sure they are 90% or 100% re-insured by GenRe.
- 2,908
They dont have an AM Best rating because they are a fraternal organization. They do have re-insurance. In my state, however, the Insurance Commissioner sent out a letter to all agents appointed with UCT warning them that the department does not guarantee the fraternals the same way as regular insurance (as far as state re-insurance) and that you must explicitly explain to the client that as a member of the fraternal organization they are on the hook for a share of any default by the company AND the agent is prohibited from stating that the private re-insurance that UCT has covers that risk or is a substitute for the state guarantee. The Department also explained in the letter that the agent must be upfront and forthcoming with this information and not treat it as an aside or a technical condition, that the customer must understand this as part of the sale.
I am just reporting the news. I dont make it.
Winter
- 125
Winter...
Thanks for the heads up. What state are you in and do you have a copy of that letter you can share?
Thanks for the heads up. What state are you in and do you have a copy of that letter you can share?
- 2,908
I am in one of the New England states. Send me a pm with your email address. I wont get to it until the middle of next week but can probably find the letter.
Winter
- 1,255
[FONT="]Although it is entirely possible for a MedSupp carrier to go belly up, my concern is with Medicare Advantage carriers. Some of the pricing is based upon claims that are over 6 months past due. CMS has been hounding a certain (unnamed) carrier that is chronically past due.
[/FONT]
[FONT="]If a MA carrier goes under, who then is responsible for the full amount? Remember there is no supplementation going on with MA plans. [/FONT]
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[FONT="]If a MA carrier goes under, who then is responsible for the full amount? Remember there is no supplementation going on with MA plans. [/FONT]
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